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The Boston Globe

Business

Holiday sales up only 3 percent

Disappointing figure tied to election, fiscal cliff concerns, Superstorm Sandy

NEW YORK — Holiday sales rose 3 percent, a major retail trade organization said Tuesday well below its forecast for a 4.1 percent gain.

The figures offer the latest evidence that shoppers held back on spending amid economic uncertainty in a season that accounts for as much as 40 percent of stores’ annual revenue.

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