Consumers are ready to spend this holiday season _ right?

- FILE - Shopping (Image: Shutterstock)

(AP)– Americans, by most measures, appear ready to shop this holiday season.

Consumer confidence is at a 17-year high, while unemployment is at a 17-year low. The economy appears to be humming, with growth of 3 percent at last measure. And initial numbers show millions more Americans shopped over the long holiday weekend than last year, spending an estimated $335 on average on gifts and other items, according to National Retail Federation.

But other indicators, like consumer borrowing on the rise and a slower savings rate, suggest there may be less merry times ahead. Robert Murphy, an economics professor at Boston College, said he’s generally positive for this holiday shopping season about consumer spending, but thinks economic growth may take a downturn next year.

Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

WTNH NEWS8 provides commenting to allow for constructive discussion on the stories we cover. In order to comment here, you acknowledge you have read and agreed to our Terms of Service. Commenters who violate these terms, including use of vulgar language or racial slurs, will be banned. Please be respectful of the opinions of others. If you see an inappropriate comment, please flag it for our moderators to review. Also, you can now block any inappropriate user by simple selecting the drop down menu on the right of any comment and selection "Block User" from there.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s