So are we shopping or what?
Analysts say jitters over the becalmed housing market are inspiring shoppers to snap shut their pocketbooks.
Retail forecasters predict sluggish growth in 2008, saying consumer spending will be restricted by declining home values, tighter credit and the creation of fewer jobs. That would translate to retail sales growth of 3.5 percent, the slowest rate since 2003.
Home improvement centers and consumer electronics would see the least growth, assuming that the soft housing market was foremost in folks' minds.
Does this make sense to the vast majority of consumers who have no intention of selling their homes this year? Let's hope they don't catch the scared-to-shop virus.
Retail forecasters predict sluggish growth in 2008, saying consumer spending will be restricted by declining home values, tighter credit and the creation of fewer jobs. That would translate to retail sales growth of 3.5 percent, the slowest rate since 2003.
Home improvement centers and consumer electronics would see the least growth, assuming that the soft housing market was foremost in folks' minds.
Does this make sense to the vast majority of consumers who have no intention of selling their homes this year? Let's hope they don't catch the scared-to-shop virus.
posted by Eileen Smith at 8:42 PM
1 Comments:
I like to shop. If I don't have money for fun things, I go to the grocery store. It gets me through to pay day.
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