Business

Increasing Christmas Sales
by Milota Sidorova

Mark Zendi, chief economist at Moody’s Economy.com said it was the first time since the WWII, the United States were not leading the global economy. The strongest performance was shown far east – in China. The government that was maintaining its currency, yuan on considerably low level was the advantage for Chinese exporters. The export numbers were extraordinary strong – trade figures for November were the best in a year. Comparing to the year ago, the exports fell just 1.2 percent. This is the extraordinary will to boost – now the third largest economy in the economy. With upcoming Christmas, shoppers undergo expected attacks. Americans seemed to ! spend more this month – reported Commerce Department. Few more limits have to be taken into consideration. Although sales increased 1.3 percent – the best performance since August, people were still more careful. The unemployment level remains high – around 10 percent and according Fed’s representatives it is likely to rise till mid-year 2010. The reason why do sales grow is the Christmas – no matter whether poor or rich, in a job or unemployed – everyone wants to buy. According to the research company ShopperTrak sales went back 0.3 percent this week, comparing to December 2008. Comparing to the previous week the number decreased 18 percent. The sales started in more than modest way on Thanksgiving Day and the next weekend. Shoppers offered more than 50 percent discounts – however, many of the customers haven’t returned yet. Most of the discounts slid back, became too unattractive for the customers who delay their Chris! tmas shopping to the final days before the feast, hoping to ge! t better deals.

related story (sgx16120): http://news.yahoo.com/s/ap/20091211/ap_on_bi_go_ec_fi/us_eco...

by Milota Sidorova for PocketNews (http://pocketnews.tv)

PocketNews is a new real-time news broadcaster delivering the latest and hottest news right to your pocket ! With global clients who want to be kept up to date, PocketNews is everyone's way of keeping in touch with the World.

posted by Blog TechSource @ 2:37 PM