Tuesday, December 29, 1998

Holiday shopping up

The American consumer, whose zeal for shopping was something to behold this past year, appeared to be slacking off just when needed most, during the Christmas season. Where, oh, where have you gone, retailers asked, their spirits then being lifted and wallets fattened as purchases picked up at the last minute.

According to published reports, the big-chain stores saw December sales go up as much as 5 percent over the previous year, and while more definite numbers for retailers won’t be finally calculated until next month, you just might hear the sigh of relief if you cock your ear toward the nearest shopping center.

The thing that spurs Americans to roll up their sleeves and diligently shop, shop, shop, it’s reported, is a good economy, which includes lots of jobs and a rebounding stock market that is making millions richer. In turn, the shopping boosts the economy. Economists continue to predict a slight lessening of all this good economic news in the year just around the bend, but, in the meanwhile, it looks like the holidays have been a happy time for many merchants.