A story from the Huffington Post claims an anticipated increase in sales of men's apparel this year should be taken as an indication that the economy has turned around.
The article quotes data from IBM Global Business Services that forecasts U.S. men will spend the most money in 20 years on apparel in 2012. Last year, they spent an estimated $8.4 billion on clothing. This year, the amount should rise by 8.26 percent.
According to Huffington Post:
The estimates are based on data from the Census Bureau, which will publish detailed December apparel sales numbers later this month, and these figures do not include internet sales."What is happening here is that men are going back to work. It was harder for a man to get a job than it was for a woman," Mike Haydock, head of retail analytics at IBM told Reuters.
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