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The Economy: Not So Good

Not exactly a news flash, I know. But here’s some more bad news:

 Digital camera sales took it on the chin in December, according to PMA.

The association reports: This past December proved to be especially tough for retailers, as digital camera unit sales were down 3 percent in December 2007 compared to the same month the last year, reports the latestPMA Monthly Camera and Printing Trends Report. In December 2006, digital camera sales were up 20 percent compared to the previous year.

Of course, we can’t tease out any macro-economic implications from that. It’s probably indicative of the category’s maturity. 

But then a ChangeWave report landed in the inbox this morning on corporate IT spending, where they note: the percentage of respondents projecting decreased IT spending for 2nd Quarter 2008 is far greater than the percentage projecting an increase. To put these findings in context, you have to go all the way back to August 2001 to find the last time a ChangeWave corporate IT spending survey projected negative spending growth. Importantly, the survey found that the projected decrease is taking place in companies of all sizes, indicating the slowdown is not just an isolated phenomenon

This bad economic news has a self-reinforcing quality about it, it’s true, but I don’t think happy-talk is going to fix things either.