Great weather saves Italian economy?

December 2008

OK, OK, so it is a bit of an overstatement but the fabulous weather Thursday through today (Saturday)–crucial holiday shopping time–meant that many, many people were out shopping.  This is a good thing for this economy.  It is not only the objective increase in spending but also the psychological impact tat becomes self-reinforcing:  When people see a lot of people out, they feel better about the economy.

No, I don’t think that Pollyanna lives in Milan.

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