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Retail Sales Jump on Low Gas Prices, Deep Holiday Discounts

Consumers are spending more. November retail sales numbers from the Commerce Department rose 0.7% and 5.1% year-over-year.
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Consumers are spending more. The November retail sales numbers released Thursday from the Commerce Department rose 0.7% and 5.1% year-over-year. Sales rose 0.5% in October. The consumer has strengthened lately especially with low gas prices, but that isn't enough to keep the consumer healthy. Wage growth still remains tepid. TheStreet's Scott Gamm speaks with John Lonski, chief capital markets economist at Moody's Analytics on the strength of the consumer, how low gas prices affects the consumer and if the improving retail sales numbers could prompt the Federal Reserve to raise short-term interest rates sooner than expected.

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