A lot of people tend to look to home, retail, or car sales to check the health of the economy. However, according to former Federal Reserve Chairman Alan Greenspan, the sale of men’s underwear is an excellent indicator of economic health.
According to news publication The Daily Caller, men’s apparel sales were flat in 2012. However, sales of underwear and socks has recently experienced major improvements, according to CPD, a marketing and consumer research group.
Founder of ConsumerWorld.org Edgar Dworsky noted humorously that men must find it a good time to replace holey underwear during periods of recovery.
It has been noted by some observers that divorce rates also tend to rise during recovery periods. This is attributed to the fact that divorce tends to be expensive.
People will drink more and visit their hair salon more often during good times, but they tend to see more films when the economy is contracting or not growing as much. Figures from Kiplinger have shown that box-office sales were higher during years of recession.