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Average tax refunds fall for second week straight

The average refund in the second week of the filing season ended Feb. 8 was $1,949, down 8.7 percent from $2,135 a year earlier, according to IRS data released Thursday.

Retail sales fizzle in December, holiday drop to blame

U.S. retail sales fell in December, posting the biggest drop since September 2009 and delivering more evidence that last year’s holiday sales fizzled unexpectedly. Even e-commerce suffered a big setback.

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