August 4th, 2010NC retail industry banking on big Sales Tax Holiday
Raleigh – Whispering Pines resident Rachel Batson took the family to the mall on Tuesday, to scope out ideas for this weekend’s Sales Tax Holiday.
The big ticket item this weekend may be consumer confidence, at a time when Americans are holding onto more, and spending less. Parents with multiple children on their way back to school are eager for the holiday, as the savings add up quickly.
N.C. State economist Mike Walden believes multiple economic factors will have a significant impact in this year’s tax-free holiday weekend, and spending may not be as high.
“With the recession and with asset values, stock market, house values down, consumers – which really drive our economy – are having to pull in,” said Walden. “They’re not going to be spending like they used to.”
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