Economic Cheer: The Most Wonderful Time of the Year

December is traditionally a strong month for retail spending, with Americans typically spending more during the holiday season. This trend is seen not only in retail shopping but also in the overall GDP of the country. Despite the economic crisis caused by the pandemic, December spending increased in 2020, aided by government stimulus payments. Economists are closely watching consumer behavior this holiday season, expecting a promotion-driven shopping period with increased spending compared to last year. The ability of Americans to spend during the darkest months of the year plays a crucial role in the health of the economy.