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Comment on U.S. Bureau of Census Retail Sales Report: Kathy Bostjancic, Director of Macroeconomic Analysis, The Conference Board

Press Release   •   Jul 15, 2013 14:00 EDT

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.

About The Conference Board The Conference Board is a global, independent business membershipand research association working in the public interest. Our mission is unique: To provide the world's leading organizationswith the practical knowledge they need to improve their performance and better serve society. The Conference Board is a non-advocacy, not-for-profit entity holding 501 (c) (3) tax-exempt status in the United States. www.conference-board.org