It’s only a matter of time before the recession that has gripped the European Union stretches across the Atlantic and hit home. With gas prices dropping like a rock I think that consumers will be more inclined to open their wallets a little further this holiday shopping season.

Retail sales in the U.S. dropped 2.8% in October, which I didn’t think was much of a surprise but was the largest drop on record. I don’t plan to curtail my holiday spending at all, but I’m not sure about everyone else.

[tags]economy, eu, europe, recession, holiday shopping, consumer spending, shaun carter[/tags]