Consumer sentiment appears to be “fairly upbeat” this holiday season, given the relatively sluggish economic growth seen in the U.S. economy this year. While the economy grew at an annualized 1% in the first half of the year, consumer spending rose 3%. That consumer strength has come from two factors – a strong labor market and weak consumer goods prices, including low gas prices. Both have added money in the hands of consumers, setting the stage for good holiday sales, according to a survey by PriceWaterhouseCoopers. “Strong income gains and low inflation bolstered savings earlier in the year, giving consumers…
PwC: Hipsters To Spend Nearly 50% More Than Other Americans This Holiday Season
Bala Murali Krishna