Why holiday shopping is so vital to U.S. economy [CBS News]
JC PENNEY (JCP)
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Source: CBS News
Why holiday shopping is so important for the U.S. economy The biggest gift that the United States could get during the holiday season is robust shopping by the American consumer, who is now the primary engine powering economic performance. Early indications are that this should be a good shopping season, with nearly 140 million people estimated to be on the prowl for holiday deals during the Thanksgiving weekend. The run-up to the Black Friday shop-athon is heartening: In October, retail sales (excluding such non-gift items as food, autos, and gasoline) rose an encouraging 4 percent. The National Retail Federation expected this holiday season’s sales to be 3.6 percent ahead of the same period a year ago, paced by a swiftly expanding online effort. As a result, retail stocks http://us.spindices.com/indices/equity/sp-retail-select-industry-index , lagging earlier in the year, have perked up recently to reflect the optimistic scenario. The news about U.S. consumers is mostly good, which
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