Underwear sales linked to economic future

Posted by Rachel Leigh - email

(WFLX) - Forget Wall Street and don't even think about oil futures. This economy's latest indicator is all about underwear.

The brief theory is when men start buying them, they've got money to burn. The manager of one men's clothing store can see the logic. So do some market analysts, who say, boxer sales going up means the economy is starting to bust out of the box. "I probably would agree with that somewhat because men, normally, that's one of the last purchases that they would replace," said Libins Men's Clothing store manager Scott Rhuland.

Whether or not men's undergarments really are a market indicator, the good news is that things are looking up. The Commerce Department says consumer spending went up .2 percent in July.