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发表于 2010-2-24 08:37 AM
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Retail sales are solid - in contrast to the confidence number.
Although a contradiction, there is an explanation - the middle class start to spend cautiously, again. Late 2008 to early, from rich to middle, all are cutting back due to the economic chaos and the sharp selloff in stock market. Right now, even though the job market is still dismal, those who still have a job are feeling better to spend thanks to the market return and housing stabilizing. The recent ER of the major retailers share almost the same tone - the worst is gone. |
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