Consumers in recession by Daniela Simkova

Consumers are still getting deeper and deeper into recession of spending money. The recession is spreading not just between lower and mid income consumers, but also a consumers with higher incomes started to sink into the slowdown of spending money. Sears Holding Corp. warned that this can be a start of a drop in sales and predicted regression in the retail market. Carl Steidtmann, a chief economist at Deloitte Research had also predicted a forecast in consumer spending. Mr. Steidtmann said: "When all is said and done, we have probably entered into a recession. The weakness in the holiday season was the tipping point." People are spending less money, they search for cheaper stores and what is the most surprising of all, they even search for the cheaper brands within the cheap stores. This facts widely influence any of the luxurious sectors. Mr. Wells, a chef economist at the National Retail Federation thinks that people are anxious. He also expressed his prediction which says that all the retail sales are supposed to increase by 3.5 percent in 2008. Percentage of this forecast is unfortunately below the last year's average, which was 4 percent. The forecast means no good for the investors. They are getting still more pessimistic in what can really happen.

by Daniela Simkova for PocketNews (http://pocketnews.tv)

PocketNews is a new real-time news broadcaster delivering the latest and hottest news right to your pocket ! With global clients who want to be kept up to date, PocketNews is everyone's way of keeping in touch with the World.