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While final numbers aren't in yet, estimates indicate that retail spending during the just-completed Black Friday weekend was up anywhere between 6 and 16% from last year.
Think about that. During a time many doomsayers in the media have been calling "the worst economic downturn since the Great Depression," American shoppers went out and spent significantly more in anticipation of Christmas than they did last year – which was also up over the previous year.
And the increase wasn't insignificant either. In the face of all the gloomy predictions, I think most people would have been happy with simply no decrease. And if they hoped for any improvement at all, I'm sure they'd have been thrilled with a boost of one or two percent.
But 16%? That's amazing!
While our economic recovery is still a gradual, ongoing process, I think this offers further proof that the American economy is rebounding. No, we're not all singing "Happy Days are Here Again" on every street corner, but jobs are returning, business is improving and, most importantly, people are regaining faith in their future. And that's certainly worth celebrating.
But what do you think? Do the Black Friday numbers promise a big overall Christmas selling season? Or were bargain hunters just getting their shopping over with sooner?