A report that tracks spending on popular holiday goods, the MasterCard Advisors SpendingPulse, said Tuesday that sales in the two months before Christmas increased 0.7 percent, compared with last year. Many analysts had expected holiday sales to grow 3 to 4 percent.
In 2008, sales declined by between 2 percent and 4 percent as the financial crisis that crested that fall dragged the economy into recession. Last year, by contrast, retail sales in November and December rose between 4 percent and 5 percent, according to ShopperTrak, a separate market research firm. A 4 percent increase is considered a healthy season.
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7 comments:
Well, what did you expect? Excessive spending in the face of none and dwindling jobs? face facts here.
Cant imagine why?Maybe we are still in a depression.
so much for that obammi economic confidence. so how's that goin? FAILURE!!
oh my; this can't be. o said we are in a much stronger position and our economy is strengthening. who do you believe???
G-O-O-D! Regardless of the economy, perhaps people are wising up to the fact that the quality of the holiday has little to do with how much money you spend and more to do with how you spend your time. And just maybe, despite the media message, people have wised up to the fact that spending like crazy and running up the credit cards defies common sense, again regardless of the economic outlook.
Some of this blame can go to congress as well. If we weren't facing the cliff and uncertainty I would have been able to spend a couple hundred dollars more on Christmas. I know that I am not alone in that position, friends and family have expressed the same feelings.
Thank you, Obama.
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