“Although consumer spending is not particularly robust, households do continue to spend and provide moderate support for the overall economy,” Steven A. Wood, chief economist at Insight Economics, said.
For retailers, the outlook for the holiday shopping season is mixed, as the need to post deep discounts to keep up with competition can cut into profit margins. “Black Friday” opens the holiday shopping season, when retailers attract shoppers with discounts and free merchandise.
More retailers are opening their doors at midnight or earlier in an increasingly competitive holiday shopping season, the Contra Costa Times reports.
SPDR S&P Retail
Tisha Guerrero contributed to this article.