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Consumer Confidence

Business
And We're Off: First-Ever $1 Trillion Holiday Shopping Season Expected And We're Off: First-Ever $1 Trillion Holiday Shopping Season Expected
And We're Off: First-Ever $1 Trillion Holiday Shopping Season Expected Black Friday is here and this holiday shopping season is expected to be one for the books. The spending forecast is above $1 trillion for the first time, with e-commerce sales comprising an estimated $123.7 billion, according to eMarketer. There are a number of ‘macroeconomic indicators’ that hint at this spike in shopping season sales; a positive labor market, increased consumer confidence, and overall GDP growth and lower unemployment. If estimates are correct, the total increase in spending will be 5.8% higher than last year’s sales and spending numbers.

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by Valerie Musson
Lifestyle
New Yorkers Feeling More Confident About Spending Money, Poll Shows New Yorkers Feeling More Confident About Spending Money, Poll Shows
New Yorkers Feeling More Confident About Spending Money, Poll Shows A new poll by Siena College Research Institute discovered that New Yorkers are feeling more confident about spending money. The public-opinion survey from the second quarter of 2018 found that New York residents plan to buy motor vehicles, electronics and furniture more than they had in the previous three months. However, their spending plans dipped for home improvements. “For the 15th consecutive quarter, consumer sentiment across New York state is well above the optimism/pessimism breakeven point," said Douglas A. Lonnstrom, professor of statistics and finance and SCRI founding direc…

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by Jon Craig