Check Out unemployment’s strain on consumers’ wallets.
This is not what retailers want to hear on the day before Christmas, but evidence continues to mount that consumers are cutting back spending.
The U.S. Commerce Department said consumer spending contracted 0.6 percent in November, the fifth-straight monthly fall. Incomes shrank 0.2 percent. A separate report showed initial claims for jobless benefits last week reached the highest level in 26 years.
Today, retailers are making a final push to lure last-minute gift hunters but surveys indicate the steep discounts are not inspiring consumers to spend. This year’s U.S. holiday shopping season could be the worst in up to 40 years.
Are you spending more or less this holiday season? Let us know.
Also in the basket:
‘Heritage cocktails’ make a comeback
More U.S. store closings to come
(Photo: Reuters)
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5 comments so far
I hope to all reading this, go out there and shop if you have the money support our retailers they need the help so that they can provide you within the few years, its all up to us to make the economy move again, shop online, goto the local book store do something, support the small guys too it will help. Here are a few of very reputable websites to shop from.
http://www.tycromedia.com
- Posted by Bobhttp://www.overstock.com
http://www.etech4sale.com
[...] Jacobs at the Reuters Shop Talk blog — "Check Out Line: Spending Still Down." Money quote: "…. evidence [...]
- Posted by Good News: Nov. Real Consumer Spending Increase Sets 3-Year Record; Biz Press Stays Downbeat | Business Opportuinty Buzz And Web News[...] Jacobs at the Reuters Shop Talk blog — "Check Out Line: Spending Still Down." Money quote: "…. evidence [...]
- Posted by Good News: Nov. Real Consumer Spending Increase Sets 3-Year Record; Biz Press Stays Downbeat | Latest Technology News - Business News And Expert Advice[...] Jacobs at the Reuters Shop Talk blog — "Check Out Line: Spending Still Down." Money quote: "…. evidence [...]
- Posted by Good News: Nov. Real Consumer Spending Increase Sets 3-Year Record; Biz Press Stays Downbeat | Got Access News[...] Worst season in 40 years? - Bloomberg: Final holiday weekend sales [...]
- Posted by Cutting Remarks » Blog Archive » Diamond Shavings: Your (Once Again Early) Web Round-Up