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Topic - Ted Wieseman
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"This shows an initial impact of the boost to consumer spending power and sentiment from plummeting gasoline prices," said Ted Wieseman, economist at Morgan Stanley. "We anticipate that will continue into the key holiday shopping period."
While consumers have been cautious about spending their growing incomes and windfall savings at the pump, "we'd be surprised if some portion of the further ongoing acceleration in income growth doesn't get spent in the upcoming holiday shopping season," he said.