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Entries in Spending (44)

Tuesday
Nov232010

Gallup: American Confidence in Economy Up So Far in November

Photo Courtesy - Getty Images(PRINCETON, NJ) – Americans are more optimistic about the economy than they were a year ago, according to Gallup’s Economic Confidence Index.

The index, which is derived from consumer ratings of the current economic situation and economic outlook, is up to -26 from -29 in October. However, the current figure is actually a decline from a midterm election surge that brought the figure to -22.
 
The optimism may stick around as the percent of Americans who view the economy as “getting worse” also declined, down to 57 percent from 60 percent in October.

Copyright 2010 ABC News Radio

Sunday
Nov142010

Holidays Come Early: Retailers Seek New Ways to Drive Traffic

Photo Courtesy - ABC News(NEW YORK) -- Black Friday is still two weeks away but retailers are already starting some of their big holiday sales. There is growing optimism that consumers may be willing to spend again this holiday season, and it seems stores will do almost anything to get your money.

Dragged down by the recession, 2008 and 2009 were hardly festive for business. But this year, things are looking up. According to the credit card companies, retail sales are up more than 3 percent. Retailers have already added three times as many seasonal workers as last season, and one of the country's bellwethers – Macy’s – rang up better than expected profits last quarter.

“Prices are at a level that are appealing to consumers and there's a lot of product newness out there to stimulate consuming,” retail analyst Dana Telsey said.

The Christmas lights have already been strung up outside a Macy's department store in New York City, where some say they're tired of not spending money -- and what better time to start shopping than the holidays?

“I think people want to spend...that's what I'm noticing,” said one shopper.

That's why big business is getting a head start. Best Buy kicked off its early black Friday sale this week. Holiday sales at Target begin the Sunday before Thanksgiving and Amazon.com launches its online sale a full week before "Cyber Monday."

“E-commerce allows retailers to be able to start the holiday season earlier than they do in their stores,” Telsey said.

Copyright 2010 ABC News Radio

Monday
Nov012010

New Income, Spending Figures Show Continued Weakness in Economy

Photo Courtesy - Getty Images(WASHINGTON) -- New numbers released Monday show a drop in monthly income for the first time in more than a year.  According to the U.S. Department of Commerce, monthly income dropped one tenth of one percent in September. 

The Commerce Department also says spending growth slowed in September to the weakest pace in three months.  Figures show spending rose by two tenths of a percent.

Copyright 2010 ABC News Radio

Monday
Oct252010

How Much Will Americans Spend This Christmas?

Photo Courtesy - Getty Images(PRINCETON, N.J.) -- Consumers plan to spend slightly less on Christmas gifts this holiday season compared to last, according to an initial forecast by Gallup.

Americans predict to shell out an average of $715 this year, down from the $740 they planned to spend in Oct. 2009. The decrease is small compared to the $61 year-over-year reduction from the year before and the $108 difference the year prior.

The poll found that 27 percent of Americans plan to spend less on Christmas gifts, while 11 percent said they will spend more.

While the results are not particularly encouraging for retailers, the poll says this year’s predicted decline may point to a “fairly flat” holiday season.

Copyright 2010 ABC News Radio

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