The Economy: Analysts look to October retail sales for guidance on the pace of economic activity as we move through the 4th quarter. Market participants are looking to measure personal consumption over the holiday shopping season. Retail reports today pointed to solid growth in sales last month. Individual spending has increased over the past couple of months at a pace not seen in years. While individual spending has grown at a good pace, business spending has been lagging. What will it be, a year-end with strong holiday sales or a year-end with weak holiday spending?
Food for Thought: Ray and I look to gauge personal spending by who in the crowds at the malls were carrying shopping bags. We were at The Grove in West Hollywood on Saturday and it was absolutely packed. However, the only person we saw with a bag was me...no kidding. Is our methodology of "retail shopping reviews" faulty or are shoppers walking around, seeing things in the store and then buying them online...or not? I read that today's malls have been renovated to be destination "hot" spots for restaurants and bars. Today's retail numbers showed a decline for restaurants and bars for a 3rd month in a row. Will the holiday season be Ho Ho Ho or No No No?
Mixing Business with Pleasure: Here are a couple of things on tap for this weekend from San Diego Magazine:
1) Del Mar Antique Show and Sale at the Del Mar Fairgrounds, starting Friday November 16 through Sunday November 18
2) San Diego Bay Wine and Food Festival Grand Tasting at Embarcadero Marina Park North on Saturday November 17
3) Take you and yours to Rady Children’s Ice Rink in Liberty Station (through 1/6) starting Saturday November 17