Christmas sales figures aren't in, but forecasters predict Happy Holiday
The Christmas holiday could mark the start of an economic comeback. While you may not find them under the Christmas tree, the sale of big ticket items like homes and cars signal an uptick in buying:
"People aren't willing to take on short term debt unless they feel they can pay it off. So, people are feeling pretty good about both holding onto a job and about the amount of money they're going to be making in those jobs."
Patrick Jankowski, lead researcher at the Greater Houston Partnership says the early numbers on the holiday shopping season aren't in yet, but it looks like a good year:
"If you look at what's been reported through the first nine months of the year, retail sales are already up double-digits compared to last year. I expect when we finish up the year, retail sales will be double-digit."
Jankowski expects to see the trend continue into 2013, but is not predicting big increases.
"We'll still see steady growth; I don't know if we'll see double-digit growth, but we will continue to see growth in retail sales as more people work, more people buy homes, more people are comfortable in their incomes and their earning potential."