Stephen Ciccone, associate professor of finance, was recently quoted in a New Hampshire Union Leader article exploring holiday spending habits amidst economic challenges like inflation and rising credit card debt.
Ciccone provided insights into the psychological impact of a strong stock market on consumer behavior, noting that rising markets often boost consumer confidence. “The stock market being up is typically going to increase consumer confidence, and when consumer confidence is up, that will lead to more spending,” he explained. “If they feel richer, they're going to spend more.”
The article delves into factors influencing holiday spending, including New Hampshire’s tax-free sales advantage, credit card debt trends, and the state's low unemployment rate. Ciccone’s commentary highlights the interplay between financial markets and consumer behavior during the holiday season.
Read the full article here
