It is starting to appear that Santa’s sleigh will be a lot lighter this Holiday season however Creighton University Economist Dr. Ernie Goss says he will be making more stops in the Midwest than in other areas of the country.
Goss says retailers are also preparing for a lack-luster season. He says they are guarded as to what will happen and they are cautious about expanding their inventory. He says they have cut back fairly significantly as well.
Goss says those in the Midwest will have a few more packages under the tree this year. He is predicting a growth of 3 to 4% in the Midwestern states. He only expects to see 1 to 2% growth from the rest of the nation.
With the very low projection it appears that economic times are tough even for Santa. Goss says normal expansion would be 6 to 7%. However, Goss adds the growth we are seeing is much better than what we experienced in 2010.