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Americans likely to cut down on their Holiday Spending
- By Didier Delmer
- Published 23/11/2007
- Economy, Markets
-
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Didier Delmer
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Surveys by financial analysts, retail and consumer associations indicate a slower rate of growth in consumer holiday spending for this year than in preceding ones. The holiday season traditionally starts on the “Black Friday” immediately following Thanksgiving, or today Friday, November 23, one of the biggest shopping days of the year.
Retailers are understandably worried about slow business and the morose outlook, and have started discounting exceptionally early in order to attract customers and avoid having left-over stocks on their hands. 
Some analysts say that the figures are misleading and that while the majority of Americans might hesitate when it comes to gifts, trips and leisure, the well-to-do will still splurge on luxury goods. But as one retailer points out, the weak dollar will not be particularly beneficial for imported luxury goods, but will probably spur the sales of U.S. brands.
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