More good news for the economy

[NJmaverick]

Stores to post modest December sales gains

NEW YORK – Holiday shoppers bought a little more jewelry, electronics and boots but passed by the women's clothing racks, according to figures released Wednesday.

The latest figures from MasterCard Advisors' SpendingPulse also offered confirmation that shoppers were deliberate in their spending. The data service tracks all forms of payment, including cash.

Still, retailers are feeling somewhat encouraged, entering 2010 with fewer clearance racks and expecting fourth-quarter profits to improve compared with last year, when many lost money.

"It was a holiday season of modest sales gains but healthy profits," said Michael P. Niemira, chief economist at the International Council of Shopping Centers. "The question is, what kind of momentum do we have in the next few weeks? There is no reason for shoppers to buy."

http://news.yahoo.com/s/ap/20100106/ap_on_bi_ge/us_retail_sales_outlook

Slowly but surely the economic ship is doing a 180 and heading back in the right direction.