Originally published by the Voice of America (www.voanews.com).
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November 24, 2007

US Holiday Shopping Season Starts Amid Recession Fears
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http://enews.voanews.com/t?ctl=1A5B1C7:A6F02AD83191E160C99E6FCC33413A8F2E7CA1C1B166B639& Americans hit
shopping malls in search of special bargains marking start of the
holiday shopping season It's the day after the annual Thanksgiving
holiday in the United States when Americans hit the shopping malls in
search of special bargains that mark the start of the holiday shopping
season. This day is significant for what it indicates about the U.S.
economy, which is struggling with a declining housing market, record
high gas and oil prices and recession fears. From Washington, VOA's
Margaret Besheer has more.







With bags full of holiday shopping, Marc Scott walks out of the Disney
Store at Ala Moana Shopping Center in Honolulu, 23 Nov 2007 Shoppers
began lining up outside department and electronics stores in early
hours of the morning Friday to take advantage of retailer's deep
discounts on everything from clothes to big-screen televisions.

"I'm in line 17 hours beforehand because I'm going to be saving
two-and-a-half months worth of money in rent," said this shopper.

Retailers call the day after Thanksgiving "Black Friday" because the
traditional surge in shopping turns many of their account ledgers from
"red" - indicating a deficit - to "black" - showing a profit.

But while Black Friday is expected by some analysts to be the busiest
day of the season, it is not a predictor of how retailers will fare
overall in the holiday season.

"They are going to come out early and buy, take advantage of the
sales, and then go away and sit on their wallets for a while," said
retail analyst Wendy Liebman.

Last year, retailers had a good start during the Thanksgiving weekend,
but struggled in the countdown to the Christmas holiday in late
December. This year, analysts expect sales gains to be the weakest in
five years, as shoppers worry about a declining housing market, rising
oil and gas prices, a weak dollar and recession fears.

The United States is the biggest importer of raw materials and
manufactured goods. If U.S. consumers do not open their wallets this
holiday season, it will have a big impact on countries who export to
the United States.


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