Consumers made repeat trips to stores and spent more on bargains this holiday weekend, but the early rush is unlikely to save retailers from a bleak sales season, analysts said on Sunday.
The whole world–almost the whole world–was watching sales figures from the post Thanksgiving shopping weekend in the US. I can confirm this as my British and German and Korean friends here in China were all discussing the financial news over the weekend. Looks like sales are good, but only for discounted prices. Revenues may not be enough to spur much of a recovery.
In related news, stimulus packages continue to be discussed and promised, and interest rates are moving lower, providing discounts for investment money too. Strange that the attacks in Mumbai and Thailand are linked–somehow–to the dire economy.