Black Friday Illustrates Economic Picture

Although millions participated in Black Friday sales across the United States, and millions more are undoubtedly participating in Cyber Monday today, holiday sales figures are not looking good. Official numbers will be released later this week, but there are worries that lower than expected sales numbers during a crucial time for retailers could potentially threaten to exacerbate the economic downturn. In this consumer-led recession, Thanksgiving is not just an American holiday anymore. Emerging economies that benefited greatly from exports often relied on the American holiday shoppers. With Americans saving more during a period when consumption traditionally increases, our holiday sales woes will have a more global impact.