The Expert Predictions
- Retailers brace for tougher times and more frugal customers in 2023 (cnbc.com)
- How is consumer spending around Christmas 2023 likely to affect retailers? – Economics Observatory “Despite falls in headline inflation, predictions for Christmas consumer spending in 2023 remain downbeat. Families worry about household bills and the pressure of interest rate rises, while retailers are concerned about the supply of products, running costs and recent slowdowns in spending.“
What Actually Happened
- Americans step up holiday spending despite inflation, interest rate pressure – oregonlive.com
- Holiday Spending Increased, Defying Fears of a Decline – The New York Times (nytimes.com)
As usual, expert predictions are wrong, almost all of the time.
