The following files on the database website maintained by Dr. Al DePrince have been updated with today's release of the revised third quarter data.
From the Tennessean (11/22/07): "Although holiday sales are expected to increase retailers' overall sales, that increase isn't as large as it has been in recent years. The reason: economic obstacles.
"'Higher gas prices, a slowing national economy and continuing problems in the housing market' are a few of the reasons, said David Penn, director of the Business and Economic Research Center at MTSU. Therefore, 'households have less discretionary income to spend,' said Penn.
"To combat these obstacles, many retailers have offered pre-Thanksgiving sales. Many retailers have indicated they are overstocked, Penn said, allowing consumers to 'get some really big deals.'
"Retailers, such as discount and department stores that cater to low- and middle-income consumers, will be the ones hardest hit by this decrease, according to the National Retail Federation. However, 'large retailers can weather that storm,' said Penn."
From the Tennessean, an editorial by Steven Livingston, editor of Global Commerce, on state trade with China: "The new trade office will play a helpful role, but, as always, it is the ability of the state to foster a business environment attractive to local and foreign firms alike that will be most important in whether Tennessee takes advantage of the opportunities being created by the rise of China."
From the Tennessean: "Still, high gas prices probably won't deliver a crushing blow to the local economy, said David Penn, director of the Business and Economic Research Center at Middle Tennessee State University in Murfreesboro."
The following files on the database website maintained by Dr. Al DePrince have been updated to reflect the release of quarterly GDP data yesterday and monthly consumption data this morning.
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