Holiday shopping season rides rising consumer confidence
Holiday shoppers are feeling better about the U.S. and Michigan economies.
Economists credit holiday shoppers having a few extra dollars in their pockets this season.
Robert Dye is the chief economist for Comerica Bank. Dye points to falling gasoline prices and an improving job forecast as just a couple of factors helping boost consumer confidence over the holidays.
“I do expect the holiday shopping season to reflect a more secure, a more confident, and a more employed U.S. consumer,” says Dye.
But there is a dark cloud on the horizon: Inflation.
After being in check for several years, Dye expects inflation could begin to be an issue next year, as the Federal Reserve starts renormalizing interest rates.