U.S. Outlook: Will consumers keep spending over the holidays?
Next week is the all-important kickoff of the holiday shopping season, with the four most important shopping days of the year.
For more on this, see highlights of my report below, followed by a link to the full U.S. Outlook, delivered on Nov. 17.Key observations:
- The retail sales data through October show a consumer who is ready and willing to spend this holiday season.
- The fact that retail sales for October continued to climb after a huge gain in spending during September bodes well for holiday sales.
- Income growth continues to lag consumer spending.
- We are forecasting nearly 3% real consumer spending growth in the fourth quarter.