In her analysis of post-Thanksgiving retail sales, Citi’s Deborah L Weinswig cited one big factor that might get consumers in the mood to spend: cheap gas.
While gas prices are up +1.8% YOY, they have fallen (-7.0)% over the past four weeks. We believe the sequential decline gave consumers more confidence to splurge on discretionary items on Black Friday.
Indeed, this is a story that hasn’t been talked about much (gas prices are always talked about on the way up … much less so on the way down).
But, via Gasbuddy.com, here’s the chart that is saving Christmas.
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