Holiday spending back to pre-recession levels

Americans are splurging like it's 2007 again.
Shoppers spent more money this holiday season than at any time since before the recession, according to preliminary retail data released Monday.
After a 6 percent free fall in 2008 and a 4.1 percent uptick last year, retail spending rose 5.5 percent in the 50 days before Christmas, exceeding even the more optimistic forecasts and the biggest increase in five years, according to MasterCard Advisors SpendingPulse, which tracks retail spending.
Spending reached about $584.3 billion, compared with $566.3 billion in 2007, the last year before the recession paralyzed the nation.
catch more at http://seattletimes.nwsource.com/html/nationworld/2013782160_shopping28.html
Proudly sponsored by