• FuglyDuck@lemmy.world
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    11 months ago

    I think, if the data is granular enough, you could see it in what people were buying. Of half the sales were in DVDs and grown-up-toys, then yeah, it’s doom spending.

    But I doubt anyone whose pay check to pay check or even remotely close just went out and drop loads of cash on things that weren’t either vaguely needed or budgeted into savings.

    Outside of Black Friday, spending increases are accounted for by increase in food and energy inflation- not to mention the cost of debt- especially revolving debt.

    Also consider, that the 5% gains you cite probably include people that don’t really need them. The rest of us see a net loss compared to inflation- maybe not yoy, but compared to the last three years certainly. Rememebe the whole point raising interest is to both reduce demand and reduce increases in pay. (After all, it’s all the consumer’s fault and not at all greedy corporations fixing the prices of eggs… which are pretty much used in every kitchen.)

    This year no toys for me- rather it was very much needed appliances.