Posted 11/22/2023, 8:47:52 PM
Black Friday Spending Could Reveal If Consumers Can Buoy Economy Despite Inflation Worries
- Consumer spending has defied expectations so far this year, and Black Friday shopping could indicate if that continues
- Retail trade group forecasts a solid, near pre-pandemic level holiday shopping season between Thanksgiving and Cyber Monday
- Some retailers say shoppers are pulling back due to high inflation, interest rates, and other budget pressures
- Whether consumers keep spending will determine if the economy stays afloat or sinks into a recession
- Job market remaining strong, with low unemployment, may support continued consumer spending