Shop Talk

Retailers, consumers and prices

Check Out Line: Spending Still Down

December 24, 2008

Check Out unemployment’s strain on consumers’ wallets.

holidayThis 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

Cadbury sells drinks unit

More U.S. store closings to come

(Photo: Reuters)

Comments

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
http://www.overstock.com
http://www.etech4sale.com

Posted by Bob | Report as abusive
 

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