The Grinch did not steal Halloween.
Gallup reports that consumer spending was essentially flat leading up to Halloween, but confidence bumped up and more people are reporting that their companies are hiring.
The posted graph shows Gallup’s numbers for self-reported spending by consumers over the last eleven weeks.
The blue line graphs the average amount spent daily, averaged for the week and as reported by Gallup. A year ago, the daily amount spent was about $20 higher.
The magenta line is a four week average of Gallup’s daily number, an additional computation supplied by me. The average smooths out a seesaw effect most likely caused by biweekly paychecks, a cash-and-carry outlook and tight credit.
Retailers want that line to at least remain flat. Any uphill slope at all will turn their cheeks rosy and bring out a faint smile.
A downhill slope will call out mourning dress among the forced holiday merriment.
If you have the bucks and the inclination, spend them at local small businesses. The owners need both income and cheer. The economy needs healthy and growing small businesses to provide jobs.
The elusive economic recovery is all froth and loud talk until more people find jobs.
Tags: Business, consumer spending, economic crisis, gallup, Gallup Poll, Halloween
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