Walden: The Outlook for Holiday Buying
The Economic Perspective, #4: “The Outlook for Holiday Buying”
12-14-17 – running time 2:09
Mary: I’m Mary Walden with economist MW welcoming you to the economic perspective. Today’s program looks at the outlook for holiday buying. Mike, as always, there is anticipation about how robust the holiday shopping period will be. With the economy appearing to be improving faster, I deduct some added optimism about this year. Do economists think this optimism will be fulfilled?
Mike: Summary Answer
- I think so
- I’m looking for holiday sales to be up 4 to 5% higher than last year, which
would make the growth rate almost twice as much as last year
- driven by consistent job growth, a better hiring market for workers due to
relatively low unemployment, and signs that wage growth may be accelerating
- also, with consumer optimism the highest since 2000, consumers are willing
to borrow in order to spend
- there also seems to be an expectation of tax cuts next year – which, if it
becomes soon clear it won’t happen, could dampen these positive forecasts
- one thing is for sure – there will be a continued shift from sales at brick and
mortar stores to internet buying
- I’m MW
Mary: And I’m Mary Walden for N C State Extension
A native of the Texas Panhandle, Rhonda was born and raised on a cotton farm where she saw cotton farming evolve from ditch irrigation to center pivot irrigation and harvest trailers to modules. After graduating from Texas Tech University, she got her start in radio with KGNC News Talk 710 in Amarillo, Texas.
