The University of Florida’s latest consumer confidence index was released Tuesday, affirming the prospect that this will be the worst holiday shopping season in decades. The November number of 62 is five points above the all-time low recorded by UF back in the summer.
“Virtually all of the economic news this past month has been bad,” says Chris McCarty, director of the UF Survey Research Center. But he added: “The only thing keeping the index up at this point is optimism about the future.”
We shall see how hope for the future translates into retail sales the day after Thanksgiving. All those people lining up outside stores in the middle of the night surely won’t go just to browse.
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