Hey, big spender, gonna be patriotic and give the country an economic boost with a nice, big Christmas?
The holiday shopping season is almost here, and for some it's already begun. Will you spend more this year than last? Economists are optimistic about the State's financial outlook.
One reason for hope, unemployment in Indiana is down from this time last year. In September, it was 8.5%. down nearly a percentage point from 2010. Simply put: more people are working, so more people have money.
Some organizations like the National Retail Federation predict that will translate into holiday sales, about 2.8% more than last year. As the IU Kelley School of Business lays out it's economic forecast for 2011 today, it sees housing and credit problems still plaguing Americans, but recovery, economic experts say is slowly happening. And if that prediction for holiday sales up 2.8 percent is correct, it would be slightly higher than the 10 year average.
Coincidentially, the editorial page's weekly poll this week asks how much people plan to spend this holiday season. So far, 40 percent say they'll spend about the same, and 53 percent plan to spend less. Only 6 percent say they'll spend more this year. Either this area has more penny-pinchers and worriers than the rest of the state, or those peddling the optimistic outlook are wrong. (Go here if you want to participate in the poll).
