Consumers Are On A Shopping Spree

Income is up, and retailers are happy--especially discounters

Listen closely, and you can hear it: ka-ching! Cash registers are ringing at U.S. stores--making the sweet music that retailers have been hearing for five months now as consumers dispose of bigger chunks of their rising incomes. At this pace, figures Carl Steidtmann, chief economist at consulting firm Management Horizons, 1998 retail sales will increase 6%, vs. about 4.5% in 1997.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.