Thursday, August 20, 2009

Using Underpants for Economic Measurement

There's been some very positive news coming out of the markets the last few days suggesting that the global recession may be over.

However my favourite story about commentators and economic indicators were in today's Business Spectator by my favourite man with numbers, Alan Kohler. You can also catch his always amusing daily market report on the ABC TV evening news.

Here's an excerpt from the article:

"More and more economists are now pronouncing that the cycle has turned, although it’s hard to know whether this is circular logic – that they are responding to the market and the market responding to them.

The New York Times points out this morning that Alan Greenspan has been known to watch sales of men’s underpants as a good economic indicator – they’re usually extremely consistent, but when sales dip, and men decide to stick with their old tatty ones for a while longer, he knows the economy is in real trouble. In this recession the dip has been very small apparently, and is now over."

So, how are you finding the market? We're definately seeing a change in buying attitudes, with a large amount of new and intense enquiry over the last few weeks.

But more importantly, when did you last buy new underpants?

Keira McIntosh is the General Manager at Directions Technology - an Australia owned small business providing managed and reliable IT Support in Brisbane. You can also find her on Twitter and Linked In.

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