Will economic triple play dampen the holidays?


The Center for American Progress does not like what it sees when it comes to economic matters. It knows the holidays are a make-or-break time for many businesses, and last year consumer spending was subdued by weakness in the housing sector. That weakness is still here, and CAP says it’s been joined by two other negative factors. They are a weak job growth and higher fuel prices. CAP wrote, "While we cannot predict the future, the economy in November 2007 should give consumers plenty of reasons to keep the purse strings tight during this holiday shopping spree. Without significantly higher wages or sharply higher consumer debt, the slowdown in the housing market, the lackluster labor market, and the rising gas prices could put a serious damper on retail sales and economic growth."