The Great Green Christmas of 1992

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U.S. RETAILERS GOT WHAT THEY WANTED FOR Christmas this year. After several holiday shopping seasons that ranged from dismal to desperate, the final tally for 1992 gave merchants and economists that rosy glow: helped by an obliging calendar that provided two extra shopping days this year, consumers converged on cash registers across the country to spread holiday cheer.

The Johnson Redbook Service's Retail Indicators recorded a leap of 10.4% in department-, discount- and chain-store sales over last year. The source of the spree became clearer with the release of the New York-based Conference Board's consumer confidence index for December. It showed nearly a 13-point increase, following an 11-point hop the month before. Says Redbook analyst Steve Marotta: "Consumers went from the ostentatious '80s, making sure that they had somebody's name on their pocketbook, to the '90s, when they pulled in the reins. Now what we are seeing is the result of pent-up demand."

Accompanying the high tide in retailing was a year-end spike in credit-card use. One possible result: weak January and February sales, taking some of the shine off December's tinsel as the bills from the binge drop through America's mail slots.

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CREDIT: [TMFONT 1 d #666666 d {Source: The Conference Board}]CAPTION: Rediscovered Optimism

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CREDIT: [TMFONT 1 d #666666 d {Source: U.S. Dept. of Commerce}]CAPTION: A SOLID UPTURN