According to the National Retail Federation, this year’s Black Friday sales repeat last year’s dismal performance. While the numbers of shoppers/lookers increased, spending per person decreased by almost $30. Overall retail sales this season are expected to decline slightly from those last year, when holiday sales fell to the worst in almost 40 years.
What the numbers seem to indicate is that even those consumers who still have jobs and homes are reluctant to spend in an uncertain economy. With millions of unemployed, and with little prospect of improvement in the short term, retail sales are expected to remain at below normal levels for an extended period.
The Housing Guru: The one source for all your housing questions
