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[Black Landlord]

Retailers' holiday sales plummet 4 percent

By Ilaina Jonas Ilaina Jonas – Fri Dec 26, 9:17 pm ET

NEW YORK (Reuters) – Retailers' sales fell as much as 4 percent during the holiday season, as the weak economy and bad weather created one of the worst holiday shopping climates in modern times, according to data released on Thursday by SpendingPulse.

The figures, from the retail data service of MasterCard Advisors, show the 2008 holiday shopping season was the weakest in decades, as U.S. consumers cut spending as they confront a yearlong recession, mounting job losses and tighter credit.

"It's probably one of the most challenging holiday seasons we've ever had in modern times," said Michael McNamara, vice president of Research and Analysis at MasterCard Advisors.

More:
http://news.yahoo.com/s/nm/20081227/bs_n...ingpulse_6