Since we are in the season of giving, I thought to myself, what better to write about then holiday spending? Can the holidays substantially boost the economy? Our
economy has been in a slump for quite some time. Given these circumstances, the
uncertainty in our economy has caused people to be conservative when it comes
to spending. However, the average consumer is still predicted to spend more than
what they spent last year. Nielsen’s consumer confidence index is the highest it
has been since before the recession. When consumer’s confidence increases they also begin to increase their spending. They begin to feel more certainty within the
economy and trust that the economy will stay the same for the most part. During
Black Friday weekend there were revenue gains of $59.1 billion. This is
definitely a large number in terms of retail sales. Regardless of the overall picture of this being a determinant factor in boosting our economy, this will fall short.
Sooner or later I believe we will find a way out of this recession.
No comments:
Post a Comment