American Christmas In Times Of Crisis


DESPITE the global economic meltdown that has adversely affected even the United States, American people are expected to do Christmas shopping at a level not far from that of last year. But, there's no way of cancelling Christmas, at least for the Americans.

Unlike in other countries in Europe and Asia (where government and people are moving heaven and earth to cut holiday expenses), the American people still finds Christmas something to be festive about.

In the United States, people would maintain a festive mood through holiday shopping, as economists describe US economy as on its way to recovery. Speculations however show that this year's Christmas spending in the US would be the lowest in ten years.

Shopping Less but Not Gone

According to Pollsters Gallup, there would still be shopping for American people, whose sights remained set on a festive mood. Shopping however would be less as US has not totally bailed itself out of the financial crisis. There would also be less Christmas vacations, so as the holiday decors used in pumping up the mood.

There are however some, who are looking into a "very bleak" Christmas for them.

Some Good News

US economic analysts however remain optimistic even as they claimed that the financial meltdown is slowly veering away as reflected in declining statistics representing the number of American people being laid off from their work. Since January, the number of unemployed Americans stood at a very low level (in fact the lowest) which translates to a brighter business prospect as fewer Americans are displaced.

Fewer lay-offs translate to less dying companies. Activities in the business sector have also been showing positive signs. There are however doubts companies on tapping new their displaced workforce anew.

Prices of household goods have so far been affordable even as economists attribute low commodity prices to inflation turn-out, which is expected of an economy suffering from slump. This development is translated into some sort of life sign for the American families, who are starting to be lured back to shopping.

Since October last year, prices of consumer products are down by 1.3 % all because of inflation.

Simultaneously, there are efforts from the US government to keep prices of basic commodities within reach through the formulation and implementation of new business policies designed to stabilize the trading system and eventually see American families trooping back into malls and department stores.

Earlier, Bernard Baumohl, chief global economist of the Economic Outlook Group said that there are several indicators which appear more of good news for the US government.