NEW YORK, July 15, 2013 /PRNewswire/ -- Consumer spending is maintaining momentum as consumer confidence gains some strength. Job growth has bolstered confidence and wage growth has begun a modest upward trend. However, excluding auto and gasoline, sales edged down. That said, having spent the past few years paying off debt, consumers can finally put into play some long delayed replacement purchasing. These factors are behind the recent gain in retail spending. What's more, they suggest spending will speed up a little through the summer. Unless conditions change substantially, these developments are very likely to continue into the fall, perhaps right into the holiday season.
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