Black Friday Results...

Black Friday turned out not to be a bust after all with the NRF estimating that consumers spent $372.57/person on average, an increase of 7.2% from last year. For the full holiday season, they are predicting growth to slow over the next 2 weeks as the major deals subside and consumers continue to be cautious, forecasting 2.2% growth to $470.4 billion.

I've already heard a few economists state that the 2.2% growth forecast may be too rosy, but nonetheless, if it does come in close to this rate (compared to 2.4% in 2007); it would point to a U.S. consumer that is now acting in moderation (versus a continuation of credit-backed growth -or- a steep consumer spending downturn last seen in the early 80s), which would seem the most healthy choice for the economy.

Perhaps if this path of consumer moderation is reached, business spending will follow suit?