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To: Jim Lurgio who wrote (20164)	12/21/1998 8:28:00 AM
From: Jon Koplik	Read Replies (1) \| Respond to of 152472

O.T. - holiday retail sales - the following is from an article in today's Wall Street Journal. (As someone who is betting on short-term interest rates being unchanged or lower, I have assumed that the fact that I kept NOT hearing hard numbers about this year's Christmas spending probably meant that sales are anemic. Sure enough, that appears to be the story). Holiday spending through Dec. 13 rose just 1% from last year, slowing from a 3% jump the weekend after Thanksgiving, according to TeleCheck Services, a Houston check-clearing firm that surveys about 27,000 stores. It says checks represent about one-third of consumer spending. Jon.