Despite A Lackluster Black Friday, Economic Fundamentals Look Good
"America's annual Black Friday shopping extravaganza was short on fireworks this year as U.S. retailers' discounts on electronics, clothing and other holiday gifts failed to draw big crowds to stores and shopping malls," Reuters reported Friday.
"Crowds on early Black Friday morning were thinner than years past at some malls and shopping districts," The Wall Street Journal reported. "Thinner crowds could spell problems for retailers, some of whom entered the holidays warning of uneven consumer demand and elevated levels of inventory. But the smaller crowds could also reflect deeper changes in how Americans shop: Increasingly, they are spending more online and making fewer visits to stores."
"The U.S. LEI rose sharply in October, with the yield spread, stock prices, and building permits driving the increase," said Ataman Ozyildirim, Director of Business Cycles and Growth Research at The Conference Board. "Despite lackluster third quarter growth, the economic outlook now appears to be improving.
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