Black Friday is a good indicator of how well the economy is doing. The article “Retailers happy with black Friday Turnout” claims that this Thanksgiving had more shoppers than the previous two years. Economists estimate that this is a good indicator that Utah is pulling out of its recession.
Many retail stores analyze the turn out on black Friday as an indicator how the remaining year will go. One reason why consumers are out spending more could be that they have more money to spend. It could also be that people have less uncertainty or fear of the economy. However, the article also claims that other factors also increase retail spending, such as the snowy weather. Snowy weather can create a mood of Christmas which will send more consumers Christmas shopping. The increase in spending is more likely a factor of money available to spend as well as people’s perception of how well the economy is doing.
Regardless of what factors send people out shopping on black Friday; this acceleration in shopping is a great boost to the economy. Analyzing Black Friday compared to previous years can be a great way to measure how well the economy is doing.