Holiday Shoppers Nudge Economy In The Right Direction

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Shoppers walk along 34th Street, in New York City. (AP)
Shoppers walk along 34th Street, in New York City. (AP)

Thursday is expected to be the second-largest shopping day of the season, right behind Black Friday. Procrastinators have already given retail sales a boost, after shoppers dropped $8 billion this past Saturday.

The National Retail Federation predicts that sales for the entire season will increase by 3.3 percent over last year, with online sales increasing a whopping 18 percent. The holiday spending will help nudge the economy in the right direction, but isn't enough for a full recovery just yet.

Kelli Grant, senior consumer reporter for Smart Money, reports on the shopping season and tells us that a successful holiday season this year, could mean retailers begin the so-called "Christmas creep" even earlier next year.

This segment aired on December 23, 2010.


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