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Double Drat! Holiday Sales Rise.

J.J. Jackson* | December 27, 2007 

NEW YORK (Reuters) - U.S. specialty apparel retailers saw sales rise 3.6 percentin holiday shopping, at the lower-end of expectations, according to data released on Tuesday by SpendingPulse.The figures, from the retail data service of MasterCard Advisors, offer a glimpse at the strength of the 2007 holiday shopping season, which was expected to grow at the slowest rate in five years, as U.S. consumers face a housing slump, a credit crunch and higher prices for food and fuel.

“It’s more at the lower end of the expected range but more or less in line with the reduced expectations coming into the holiday season,” Michael McNamara, vice president of Research and Analysis for MasterCard Advisors, said.

Well, apparently the “experts” aren’t quite “expert” enough. One would think “experts” would be a lot closer than giving a half a percentage point range. After all, the are supposed to be “experts”.

But the important information here is that despite all attempts at talking down the economy, yet another sector posted an increase in sales. It gets harder and harder to paint dire and doom and gloom with such information. But expect those that would profit from such spin to continue to try it.

Contributor's website: http://www.libertyreborn.com




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