Experts have been forecasting a 2010 economic rebound for months, and a few encouraging factors at the close of 2009 indicate that those predictions could be on target.

The nation’s economic growth is expected to increase at a solid pace in 2010, according to participants in the 23rd annual Economic Outlook Symposium, held in Chicago in December. Participants, including experts in the manufacturing, banking and auto industries, as well as academic, consulting and service firms, predicted inflation would move higher and the unemployment rate would decrease slightly in 2010. They also predicted consumer and business spending would rise at a moderate pace this year.

Those predictions came on the heels of positive Black Friday and Cyber Monday results. Sales on the day after Thanksgiving were up 11 percent versus 2008, and online sales the following Monday were up 5 percent, according to ComScore (Reston, Va.), which measures digital data.

In addition, the downward spiral of same-store sales growth stabilized in November, according to ForecastIQ, a service from Prosper Technologies L.L.C. (Worthington, Ohio).

Most of the positive movement in retailer forecasts was going from “almost certain” to see a decline in same-store sales to “likely” to see a decline—which doesn’t necessarily translate into growth. [February 2010 PET AGE]

Sales-Happy Holidays
Holiday shoppers spent more on key days in 2009 than on the same days the previous year.

Shopping Day	2008 (in millions)	2009 (in millions)	% Change
Thanksgiving Day, Nov. 26	$288	$318	10%
Black Friday, Nov. 27	$534	$595	11%
Cyber Monday, Nov. 30	$834	$887	5%
Green Monday, Dec. 14	$859	$854	-1%
Tuesday, Dec. 15.	$754	$913	21%
Source: ComScore (Reston, Va.)