SIDEWAYS — THE STRANGE MIXED ECONOMIC BAG of EOY ‘07
Here are two mostly-conflicting stories that demonstrate the confusing churn of the economy at this time. Food, fuel and labor costs are rising. Home values are falling off. The repercussions of the mortgage crisis continue to work their way through the finance markets. Which way will it all shake out in 2008?
Olive Garden is Darden Restaurants’ cash cow, historically outperforming brands such as Red Lobster when times get tough. If the staying power of casual dining’s Italian stallion runs out, it’s a sure sign of a larger and more deeply rooted economic crisis, reports the Orlando Sentinel.
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On the other hand…
Consumer Spending Surges in November
Friday December 21, 5:20 pm ET
By Martin Crutsinger, AP Economics Writer Consumer Spending Surges in November, Reducing Fears of Imminent Recession.
WASHINGTON (AP) — Consumers put aside worries about slumping home sales and soaring gasoline prices and headed to the malls in November, pushing spending up by the largest amount in 3 1/2 years. The better-than-expected surge lessened fears of an imminent recession.
