Monday, November 15, 2004

Go shopping!

We were spending a lot in September, but in October sales only went up 0.2%. (At least it was growing!) Cars, electronics, appliances, building supplies, and gardening supplies all declined in sales--which would make sense for the last two things because building and gardening seasons are over!
Analysts said consumer confidence was low because citizens were worried about how high oil prices were getting and how that in turn would afffect energy prices. But, retailers are optimistic about an increase in sales around Christmas and the holidays; hopefully sales will increase as long as people's energy bills don't go up too much in the winter.
Despite this, the economy is looking up and financial analysts are expecting the year to finish well. The government said a couple hundred thousand new jobs were added last month and oil prices look like they will go/stay down (keep in mind it just looks like it).
So I encourage everyone to go shopping and help the economy, because did you know that consumer spending accounts for 2/3 of the economy?

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