Consumer spending for December: WAY UP

Undertoad · 01-31-2003, 09:49 AM

http://story.news.yahoo.com/news?tmp..._ec_fi/economy

We talked about this didn't we? How those news reports on Christmas retail sales have little connection to reality? News directors all want some kind of economic report, and they want a reporter stading in the middle of a mall.

All such reports that I saw this year were decidedly negative, talking about disappointed WalMart managers not getting the numbers they hoped for, and spooked retailers cutting prices even before the holiday was over.

It takes a full month for the Commerce Department to figure out how much people were actually spending. It turns out that people were buying Christmas gifts, but also new cars. Maybe the snooty Lexus Christmas cars with the big bows on top? The Commerce Department doesn't say, and ribbon manufacturers aren't talking.

kerosene · 01-31-2003, 10:07 AM

The idea that over-consumption in this society is expected is a little depressing, don't ya think? I was just thinking about how we really have so much more than we will ever need (at least most people I know do.) Christmas is a neat holiday and all, but I get weary of the need to spend X amount of money in order to make it through without angry family members. Last year was different because we were all broke, but usually it is just a reason to go out and spend money. I'm thinking we could all give each other time next year...that's something I could use.

russotto · 01-31-2003, 04:35 PM

The article doesn't deny those dismal retail reports -- non-durable goods increased only 0.2 Nov->Dec.

Durable goods made up the difference -- Jaguar had a tongue-in-cheek commercial about buying a Jaguar as a Christmas gift, maybe people just didn't understand the pseudobritish humor and bought them. Along with those Lexuses you mention.

Unfortunately they didn't give the seasonally-adjusted rate (Dec 2001 to Dec 2002)

elSicomoro · 01-31-2003, 09:59 PM

Quote:

Originally posted by case
Christmas is a neat holiday and all, but I get weary of the need to spend X amount of money in order to make it through without angry family members.

Screw the angry family members. I don't expect anything from them, and they shouldn't expect anything from me. That only leaves me with one person to buy for--Rho.

As far as the numbers that retailers actually hoped for, perhaps some are still tripping off that great 90s-booming-economy acid.

"When all else fails, lower expectations."--unknown

01-31-2003, 09:49 AM	#1
Undertoad Radical Centrist Join Date: Jan 2001 Location: Cottage of Prussia Posts: 31,423	Consumer spending for December: WAY UP http://story.news.yahoo.com/news?tmp..._ec_fi/economy We talked about this didn't we? How those news reports on Christmas retail sales have little connection to reality? News directors all want some kind of economic report, and they want a reporter stading in the middle of a mall. All such reports that I saw this year were decidedly negative, talking about disappointed WalMart managers not getting the numbers they hoped for, and spooked retailers cutting prices even before the holiday was over. It takes a full month for the Commerce Department to figure out how much people were actually spending. It turns out that people were buying Christmas gifts, but also new cars. Maybe the snooty Lexus Christmas cars with the big bows on top? The Commerce Department doesn't say, and ribbon manufacturers aren't talking.

01-31-2003, 04:35 PM	#3
russotto Professor Join Date: Jan 2001 Posts: 1,788	Re: Consumer spending for December: WAY UP The article doesn't deny those dismal retail reports -- non-durable goods increased only 0.2 Nov->Dec. Durable goods made up the difference -- Jaguar had a tongue-in-cheek commercial about buying a Jaguar as a Christmas gift, maybe people just didn't understand the pseudobritish humor and bought them. Along with those Lexuses you mention. Unfortunately they didn't give the seasonally-adjusted rate (Dec 2001 to Dec 2002)

01-31-2003, 10:07 AM	#2
kerosene Touring the facilities Join Date: Nov 2002 Location: The plains of Colorado Posts: 3,476	The idea that over-consumption in this society is expected is a little depressing, don't ya think? I was just thinking about how we really have so much more than we will ever need (at least most people I know do.) Christmas is a neat holiday and all, but I get weary of the need to spend X amount of money in order to make it through without angry family members. Last year was different because we were all broke, but usually it is just a reason to go out and spend money. I'm thinking we could all give each other time next year...that's something I could use.

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