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Holiday spending not enough to lift U.S. from recession

Media Outlet: 

Larry Kane’s Voice of Reason

The holiday season is here and consumers are poised to buy. But will holiday spending sprees aid the economy's long-term recovery or offer only a short-term boost? Richard Lancioni, chair of Marketing and Supply Chain Management at Temple's Fox School of Business, doubts that holiday spending alone can revive the U.S. from recession. "In the short term, the holiday season will have a very positive impact on the economy," Lancioni said. "Over the long term, it may not be as impactful. A lot of retailers are hiring, but it's only seasonal. You'll see a lot of people laid off after the holiday season is over."