Ö÷²¥´óÐã

Manhattan

I'm told by my wife and daughter that I am a more enthusiastic shopper than most men, but my keenness is not quite as great as that of the many Americans for whom it seems a full-time hobby.

Still, I've still got a limited tolerance: a couple of hours is enough. Walking around the biggest department store in the world, in Manhattan, I was reminded of one of the trials of winter shopping. Covered up in jacket and overcoat against the bracing weather outside, the store feels as warm as a Florida winter. At least I am not burdened down by bags, their handles cutting into my hands, a horror of Christmas past. But, of course, for many of us what has curbed recent expeditions is not such mundane moans but the lack of money, and fears for the future.

So while you wouldn't catch me among the 7,000 people who rushed into Macy's when the doors opened at 4am, it seems a good sign for the economy.

It's in America, the biggest shopping day of the year, which traditionally marks the spending season running up to Christmas. Last year, Macy's had 5,000 at the doors, and they opened an hour later. are that Americans will spend almost $450bn (£285bn) more this year than last Black Friday.

"This is a major tourist attraction and we're starting to see a return of the European and Asian market, not just today but this year. That is different to 2009, very different to 2008 when particularly the Europeans stayed home."

He see a significance in not just the rise in number of people coming in, but the sort of people.

"We're seeing today many more young customers and many more male customers than you typically see the day after Thanksgiving. It's typically driven by the mature woman who's trying to get the gifts in for the family. We're seeing that but also these others. It tells me people are shopping for themselves. There's much more feeling of consumer confidence than a year ago. Last year they came in, got their gifts, had a budget and then they were out. This year, they're spending a bit more on themselves."

This matters. Most economists tell us that is vital to maintaining and building on America's fragile recovery.

But Manhattan is special in so many ways. About five miles (8km) away in , in New York's Queens borough, many shops are boarded up. People out on the streets are much gloomier, telling us that they don't have any spare cash to go Christmas shopping. One woman says that she has to save to pay for things like children's school books and she has no money to spend on the sales.

The manager of one electronic store in Astoria, Freddy Lakahani, says: "The last couple of years have been bad and it's getting worse. So with us it's not getting any better. Next year if it stays like that, we'll have to call it a day. We cannot survive any more."

Some Americans are spending more. Big companies like Macy's are doing well. This is a positive sin for the future and should have an impact on the whole economy. Things are going in the right direction, and that is obviously better than the reverse. But the recovery is so slow many don't believe it is happening. is stubbornly high and there are many Americans who may be constantly looking for any bargain they can get but are in no position to go on a spending spree.

• Bookmark with:
• |
• |
• |
• |
• - What's this?