Gallup Economic Weekly: Thanksgiving Week Disappoints

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Gallup Economic Weekly: Thanksgiving Week Disappoints
Economic confidence, job creation, and consumer spending flat compared to prior week

by Dennis Jacobe, Chief Economist


PRINCETON, NJ -- Gallup's Thanksgiving week results tend to confirm fears of a weak holiday sales season as consumer spending was unchanged from the prior week, even though it included Friday and Saturday of the Black Friday weekend. At the same time, Gallup's Economic Confidence Index and its Job Creation Index were essentially unchanged from the prior week. A rather gloomy consumer mood and consumer spending -- trailing last year's financial crisis-depressed comparables by 25% -- may not be unexpected, but are surely a disappointing way to start the Christmas sales season for the nation's retailers. ............(more)

The complete piece is at: http://www.gallup.com/poll/124508/Gallup-Economic-Weekly-Thanksgiving-Week-Disappoints.aspx