Friday, August 5, 2011
Economy: In Consumers We Trust VI
The New York Times writes: Sales of luxury good are recovering strongly ( nytimes.com ). The paper reports "the rich are again buying designer clothing, luxury cars and about anything that catches their fancy. Luxury goods stores are more than recovering — they are zooming".
In July, the whole luxury segment had an 11.65 increase, the biggest monthly gain in more than a year, according to the research service MasterCard Advisors SpendingPulse.
Ok, the so called luxury goods aren`t the whole economy, but they are a big part of it. And as long as other parts (discount shops, department stores, restaurants, teenager apparel, amusement parks) are also doing well as this series shows, the motor of the economy is still running.