Brought to you by WBIW News and Network Indiana
Last updated on Tuesday, December 13, 2011
(MUNCIE) - Ball State University Economist Dr. Mike Hicks is questioning rosy pictures of double-digit growth in online holiday sales.
The latest figure shows online holiday sales up by about 15-percent so far this year over last year. However, Hicks says online holiday sales had already been growing in large numbers over the years.
Hicks says the numbers are not indicative of economic recovery. He says more Hoosiers believe the online sales tax initiative will likely pass through the general assembly. As a result, Hicks says they're taking advantage of the lack of sales tax online in addition to online promotions.
Hicks also says the financial crises in Europe is having a direct impact on the U.S. economy which could slide into a double-dip recession if it isn't quick remedied.
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