Saturday, December 27, 2014

Paul Krugman's Christmas View Versus Reality

Krug writes at NYT:
Maybe I’m just projecting, but Christmas seemed unusually subdued this year. The malls seemed less crowded than usual, the people glummer. There was even less Muzak in the air. 
The reality:
 U.S. retail sales rose 5.5 percent from the day after Thanksgiving through Christmas Eve as solid demand for women's apparel, jewelry and casual dining offset surprisingly sluggish sales of electronics, MasterCard said in its holiday spending report.


  1. Krugman projecting? Who'd have thought it...

  2. Retail Sales includes online shopping!? Then both correct.

    1. I monitor retails sales for a financial institution, in store retail sales were up across the board. Depending upon the retail outfit, anywhere between 6.3% and 3.9%. Krugman is not correct.


    2. Retail industry analysts at Retail Metrics estimate same-store sales gain of 4.0%

      Krugman is delusional..