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Economists Predict Lousy Holiday Shopping Season

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Economists Predict Lousy Holiday Shopping Season

Business

Economists Predict Lousy Holiday Shopping Season

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STEVE INSKEEP, host:

NPR's business news starts with the holiday shopping season here already.

(Soundbite of music)

INSKEEP: OK, OK, we're still a month from Halloween. We're almost two months until Thanksgiving. But it's never too early, it is never too early for Christmas sales. Some economists predict this could be the worst Christmas shopping season since 1991. So to try and cash in on what cash or credit consumers might have left, Wal-Mart is announcing it is cutting prices on popular toys and will open its specialty Christmas shops next week. The retailer says its shoppers are increasingly living from paycheck to paycheck, so they're going to need to spread out their holiday shopping over a longer period of time. Macy's has also opened its specialty Christmas shops, and Target now has holiday decorations on its shelves.

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