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Analyst Predicts Strong Thanksgiving Amid Rising Incomes

12/1/2025

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Summary

Story summary

Economic analyst Kevin Hassett says real incomes rose about $1,200 this year, supporting a strong Thanksgiving weekend.
Goldman Sachs and Bank of America issued modest outlooks, saying higher prices may curb spending by low- and middle-income Americans.
He highlighted nearly a 10% increase in online sales and a 4% rise in in-store sales.
He attributes optimism to rising incomes and pent-up demand after a government shutdown, predicting a strong recovery.

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Story summary

Economic analyst Kevin Hassett says real incomes rose about $1,200 this year, supporting a strong Thanksgiving weekend.
Goldman Sachs and Bank of America issued modest outlooks, saying higher prices may curb spending by low- and middle-income Americans.
He highlighted nearly a 10% increase in online sales and a 4% rise in in-store sales.
He attributes optimism to rising incomes and pent-up demand after a government shutdown, predicting a strong recovery.