Wednesday, August 3, 2011
Economy: In Consumers We Trust II
This Bloomberg report (bloomberg.com ) is encouraging: "Spending on clothing and shoes in the back-to-school season, the second-largest sales period of the year for retailers, may rise to $28.8 billion in the U.S., up 3.6 percent from $27.8 billion a year earlier, according to the New York- based International Council of Shopping Centers".
That shows that at least one group of consumer seems to be willing to expand spending despite the gloomy sentiment in the media. Bloomberg reports that teens want to invest in "a new kind of style to make impression", a fundamental consumer behavior.
Ok, this is just a small group and cannot save the whole economy. But its a sign of confidence and trust in the future.
Maybe we can learn from them.