Friday, November 24, 2006
For shoppers, the day after Thanksgiving is the opportunity to snap up some deals. But for some economists the coming holiday season will be more of a litmus test. That’s according to Ryan Ratcliffe with the UCLA Anderson Forecast who says he’s looking at how the state’s housing slowdown will play out in consumer behavior.
Ratcliffe: A lot of eyes looking at whether a slowdown in appreciation will have an effect on spending behavior.
As for what Ratcliffe thinks? He predicts only a slight effect.
Ratcliffe: The slowdown that we’ve seen in the overall economy is going to dampen retail sales a little bit compared to what we had last year but I don’t think it’s going to be, you know that everyone’s going to stay home and not buy a Play Station three.
The day after Thanksgiving is traditionally considered the kick-off to holiday shopping, and is known as “Black Friday” when many retailers first chart profits for the year.