The majority of holiday spending in on goods, not services. This is not good because the United States economy is largely dependent on services rather than manufacturing. Retail sales overstate the big picture of the US economy. The fears of the US economy going back into a recession have gone down since the end of the summer, but they say that even an amazing holiday season can’t predict what happens in the next year.
Year., NEW YORK (CNNMoney) -- The holiday shopping season reportedly got off to a strong start this past weekend. But don't expect to find a thriving U.S. economy under the Christmas tree this. "Impact of strong Black Friday won't solve U.S. economic woes." CNNMoney. 28 Nov. 2011. Cable News Network. 11 Dec. 2012 http://money.cnn.com/2011/11/28/news/economy/black_friday_impact/index.htm.
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