Page 24 - Lighting Magazine December 2018

Despite the tumultuous political climate, U.S. consumer spending continued to rise in 2018, increasing incrementally each quarter and reaching an all-time high of $12968.54 USD billion.
BY LINDA LONGO
20 enLIGHTenment magazine | december 2018
www.enlightenmentmag.com
With consumer spending on the rise and most lighting show- rooms nationwide reporting steady to be er-than-average sales, 2018 is predicted to nish strong. That prognosis might change for 2019, however, as the second round of tari s on Chinese imports takes e ect.
In January, the tari percentage rises to 25 per- cent, an increase too high for many manufacturers to absorb as some did in the fall so as not to disrupt sales during the busiest retail season of the year. The true impact of the tari s on consumer spend- ing will probably not be e ectively calculated until
mid-way through 2019 and beyond.
Adding to the strength of consumer spending
this year, the U.S. Bureau of Labor Statistics an- nounced the unemployment rate had declined to 3.7 percent in September 2018. Economists are predicting unemployment will continue to remain low in the year ahead — which historically bodes well for the economy.
While sales for lighting showrooms remained the same or be er, there was a noticeable shi in shopping pa erns in 2018. Many retailers in a endance at the fall American Lighting As- sociation (ALA) Conference reported less foot tra c in their stores. Complicating ma ers is
2018
YEAR IN REVIEW