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Holiday shopping season rides rising consumer confidence

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Steve Carmody
/
Michigan Radio

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.  

Steve Carmody has been a reporter for Michigan Radio since 2005. Steve previously worked at public radio and television stations in Florida, Oklahoma and Kentucky, and also has extensive experience in commercial broadcasting.
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