In St. Cloud, Minnesota the economic climate is warmer than the weather would suggest. Sunday and Monday the people of central Minnesota were back in the stores and they were buying. The Christmas shopping season has been a success, and it was needed, because St. Cloud, Minnesota is a business and retail hub. But more than the staight up economics of sales revenue, what we needed here, was positive news and an optimistic outlook!
I have heard and read some in the past year or so, about what it means to be an American, and the spirit to overcome whatever we encounter. The economy, terrorism, or yellow wax buildup. The people will rally if they see signs of improvement, or when they just get tired of all the bad news. The doom and gloom. Well I think the worst is over, and we need to stop rubber necking, and start looking ahead. Keep driving forward!
The reports I am hearing in the national and local media are good. We are in return season now, and the results could be impacted if much is returned, but so far it looks like retail did well. People went to the stores and did the most business since the 2007 Christmas shopping season.
My contacts within the retail sector tell me there was a large cash factor as well. What that means is people spent cash money, instead of using credit, to a greater degree than in recent years. In fact, I witnessed a woman at the store last week, purchasing $200+. The clerk asked if she wanted to use her store credit card, and the customer said, "NO I'LL PAY CASH", in a very emphatic way!
Retail is just one leg of the economy, and there are still some negative factors at play, but we, here in St. Cloud MN seem to be rising up, through the ice and snow.
What have you been seeing? Any signs of job growth? Business openings? New developement and or construction activity?
Happy New Year from your friend in Maryland!
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