Eat your turkey, then let the spending begin!


YOUNGSTOWN

Get out your wallets: It’s time to spend, spend, spend!

The kickoff to holiday shopping starts Thursday with retailers offering deals — that really could be considered steals — on toys, electronics and even cars.

Best Buy, Dick’s and Walmart are just some of the retailers opening Thanksgiving evening with a list of offers on items they hope gift-givers buy.

But holiday shopping isn’t just about giving to friends and family. It’s about giving to the economy.

“Consumer spending is 70 percent of the U.S. economy,” said Mekael Teshome, PNC Bank economist. “If the consumer is healthy then the U.S. economy is healthy. That’s a big reason why we watch sales.”

For some businesses, this time of year is the biggest money maker.

“If holiday sales aren’t that good then it could spell trouble for them for the rest of the year,” Teshome said. “It helps consumer confidence and business confidence.”

And, the more sales, the more tax revenue for local governments.

Teshome and the National Retail Federation both say holiday sales will be up over last year’s sales.

Read more about the situation in Thursday's Vindicator or on Vindy.com.

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