By Taxpayers Association of Oregon Foundation,
Here are some signs that the 2023 Christmas economic season may be more tenuous than predicted.
#1. Retail sales slows: Retail sales have dipped in the past month as noted by Advisor Perspectives.
#2. Retail spending: Spending by the retail industry is down from the last year as noted by the Wall Street Journal.
#3. High interest rates. A 20-year high in interest rates means people’s credit card interest rates will cost more, putting pressure on consumers to spend less. Americans maxed out their credit cards this summer, leaving less for the Winter.
#4. Forecasters send signals. In November, we witnessed many different economic forecasters detail a slowdown.
