The Bay Area economy is currently in good health as the holiday shopping season approaches. The recent APEC conference did negatively impact the economy, but things are picking up again. Though Celia Anaya’s Wax Addict business recently took a 25% hit, she will remain open the week before Thanksgiving to help make up for losses and her shop is generally busy this time of year. In general, prices have dropped and shoppers are starting to flock to stores both in person and online. Added to which, Macy’s annual Holiday Windows event has a 37th event with adoptable dogs and cats from the San Francisco SPCA.
According to Bay Area economist James McBride, while inflation is declining, the economy is still stable and above the federal target of 2%. Major retailers like Macy’s reported higher sales, as Americans are spending more money on necessities like food. McBride also attributes the healthy economy to an incredibly low unemployment rate in the Bay Area; below 3%. McBride also notes that airfare prices are down 13%.