Economists who try and predict the overall financial future often handicap the weather. For the meteorologists the price of a barrel of oil does not impact our temperature forecasts. Some energy companies and agri-businesses rely heavily on both the short and long range forecast for temperatures which will impact the regional energy demands and farm futures.
Approaching the Holiday season, economists are called upon to speculate on retail sales. When expectations fall short one of the places to lay blame is on the weather. A slow start to winter stifles the sale of winter apparel, snow blowers, and seasonal recreational gear. If a harsh winter arrives early across the east half of the Nation energy consumption soars, impacting oil and gas prices.
The overall tranquil weather for this Thanksgiving holiday period put a smile on the face of retailers. Lots of green currency, disguised in plastic, changed hands on Black Friday.
You’ll be looking for hand warmers and your wool cap the next 24 hours. Despite the snowless, brown and barren landscape, cold temperatures will invade the Plains and the Great Lakes as we close out a relatively dry and somewhat mild November. Hopefully consumers held back some cold hard cash for the winter heating bills.