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Retail sales for December were true to industry forecasts that predicted lackluster results, as the estimated total fell nearly 11% from the previous year. Retail sales were $305.4 billion in December, a 10.9% decrease from $342.6 billion in December 2007, the U.S. Census Bureau announced yesterday. Last month's total also marked a 2.7% drop in retail sales compared with November, according to the Census Bureau's Advance Monthly Retail and Food Services Survey. In early December, TransUnion LLC's Truecredit.com service announced the results of a survey conducted Nov. 25 to Dec. 1 in which 54% of consumers said they would spend less during the 2008 holiday shopping season than they did the previous year, while 38% said they would spend the same amount and 5% would spend more than the previous year (CardLine, 12/05/08).

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