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Today the Washington Post reported a National Retail Federation survey finding that Black Friday weekend spending tumbled by 11% from last year. Zero Hedge’s Tyler Durden called it a “retail disaster,” and Don Surber pushed the economic panic button. New York Magazine’s Annie Lowrey offers three reasons for the slump, but Bloomberg View’s Barry Ritholtz writes that NRF survey data are notoriously unreliable. Should we worry, given that Black Friday weekend spending does not predict overall holiday season spending?
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