How do you know how the economy is doing? Take a look at your boyfriend’s underwear drawer - that’s just one of several economic indicators. Sure, the stock market can be a good indicator, but you can also tell by the day to day decisions consumers and businesses make.
For example – that underwear we talked about. When jobs are tough to find, men wait longer to replace their worn out sock and underwear. In fact, sales of boxers and briefs fell 2.5 percent in 2010. Now, they’re coming back up again.
Another sign things are rebounding financially? We’re ordering dessert! Apparently when they economy is healthy, what we order isn’t. During the height of the recession, restaurant business was down, and when people did go out to eat – they ordered an entrée, and that’s it. Now restaurant sales are back up – and the industry is reporting more customers are sticking around for dessert.
You can also gauge the health of the economy by looking at what people Google. In July of 2010, searches for unemployment benefits reached an all-time high. But since then, unemployment-related searches have been declining.
Guess what else predicts the economy? Go to a Starbucks and listen. Do you hear people ordering Ventis? Their biggest size of coffee? Fancy coffee is the first luxury to get cut when people are trying to save. But last year? Sales increased by nearly 10%.
Finally, The American Academy of Matrimonial Lawyers had a 57% drop in divorce cases in 2009. That’s because, when times are tight, people can’t afford two households. Now, that trend is turning around – and divorce lawyers say they have more business than they can handle.