The Atlanta Fed's SouthPoint offers commentary and observations on various aspects of the region's economy.
The blog's authors include staff from the Atlanta Fed’s Regional Economic Information Network and Public Affairs Department.
Postings are weekly.
I'm no shopper. My only real ventures are two weekend trips to the local home improvement store (the first one to get what I think is the right item, and the second to return that item and get the correct one). One thing I am good at is noting traffic—both on the roads on the way to the store and inside the store itself. My unscientific observation is that it's been rather heavy this holiday season.
What do our more thorough observations tell us about consumer spending this holiday season here in the region? Preliminary results from our latest monthly poll of District retailers reveal a rather positive level of activity. Nearly two-thirds of respondents said sales were up over year-ago levels, and three out of four said after-Thanksgiving sales were at or above 2010 results. With regard to overall holiday sales expectations, two-thirds expect them to be up slightly.
We also surveyed our directors on how they saw early holiday sales. Seventy-three percent replied that they were better than year-ago results to date, 21 percent said they were on par, and only 6 percent found them to be worse than a year ago.
These results appear to match broader measures of holiday sales. The Wall Street Journal has been posing a "Daily Spend-o-Meter," which reports results from Gallup on the daily average dollar amount Americans spend or charge (not counting the purchase of a home, motor vehicle, or normal household bills). It shows that national consumer spending is running above 2010 levels:
I'll be continuing my informal assessment this weekend—I have to replace a broken faucet. I'm planning on more than two trips for this one.
By Mike Chriszt, an assistant vice president in the Atlanta Fed's research department
TrackBack URL for this entry:
Listed below are links to blogs that reference Happy holidays?:
- Southeast Manufacturing: Solid as an Oak
- The Fruits of Our Labor
- Tracking Energy’s Trajectory
- Southeast PMI Surges in February
- Tiny Bubbles in Alabama
- Through the Eyes of a Big Fan
- Southeastern Manufacturing Sees No Shadow
- Southeastern Labor Market Continues Strengthening
- A New Year, a Better Economy?
- Florida's Economic Rebound Continues
- April 2015
- March 2015
- February 2015
- January 2015
- December 2014
- November 2014
- October 2014
- September 2014
- August 2014
- July 2014
- Banks and banking
- Beige Book
- Business Cycles
- Commodity Prices
- Consumer Savings
- Data Releases
- Disaster recovery
- Economic conditions
- Economic Growth and Development
- Economic Indicators
- Fiscal Policy
- Gulf Coast
- Health Care
- Holiday Sales
- Labor Markets
- Local Economic Analysis and Research Network (LEARN)
- Monetary Policy
- Natural Disasters
- New Orleans
- Oil Spill
- Real Estate
- Sales Tax