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Economist Predicts “OK” Holiday Shopping Season in 2013

Joe Raedle, Getty Images

Creighton University Economics Professor Ernie Goss says the recent decline in gas prices should help boost holiday spending this year.

Goss says  a dip in prices at the pump, and the psychological boost it provides, should contribute to about a 3 or 4 percent increase in spending  for Christmas compared to last year.

Goss says overall he expects an “OK, but not great” season for merchants this year. He says a growth rate of about 6 percent compared to last year would comprise a very strong shopping season, adding he doesn’t expect that in 2013..

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