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St. Louis Business & Technology News
www.slfp.com/SLFPBIZp.htm "When you think Saint Louis, think Saint Louis Front Page," a weekly publication covering the news and events in the greater St. Louis area. 
St. Louis Front Page P.O. Box 1354 St. Louis, MO 63188 Voice: 314-771-0200 Fax: 314-771-0300 To submit news, contact: editor@slfp.com To advertise, contact: advertising@slfp.com 
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Increase In Real Wages, Drop In Energy Prices Position Retailers and Consumers for a Solid Holiday Season ST. LOUIS, (PRNewswire), December 17, 2006 - The Deloitte Research Leading Index of Consumer Spending rose sharply this month, due to the strongest growth in real hourly earnings in four years. "This month's increase in real wages is the largest we've seen in some time," said Carl Steidtmann, chief economist with Deloitte Services LP's Deloitte Research and author of the monthly index. "The labor market remains strong, energy prices continue to come down, and housing prices have stabilized and even increased. All of these factors suggest a solid holiday season, as well as a much improved outlook as we enter 2007." The index, comprising four components - tax burden, initial unemployment claims, real wages and real home prices - rose sharply to 3.61%, from an upwardly revised gain of 3.08% a month ago. "After a strong Black Friday and Thanksgiving weekend, consumers still have much shopping left to do," added Pat Conroy, a vice chairman of Deloitte & Touche USA LLP and national managing principal of its Consumer Business industry practice. "According to our recent survey, only 6 percent of consumers had completed all of their holiday shopping at the end of November. In fact, one-third (33 percent) of consumers have not yet begun holiday shopping, and almost 4 in 10 (37 percent) still have 10 or more gifts to buy. The most successful retailers will continue to focus on converting shoppers into buyers through excellent customer service, in-stock merchandise and streamlined store navigation." As announced on September 28, 2006, Deloitte's Consumer Business practice expects that holiday sales, excluding autos and gasoline, will increase 7 percent during the November-to-January period, less than last year's exceptional 7.8 percent increase, but still above the past decade's average growth rate. For more information on Deloitte's 21st Annual Holiday Survey, please visit www.deloitte.com/us/Holiday2006. Highlights of the index, which tracks consumer cash flow as an indicator of future consumer spending, include:
 
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