Underwear Indicator Shows Recession Not Over Yet

The indicators down below show we're still in the pits

By Janette Williams
|  Wednesday, Jun 3, 2009  |  Updated 1:00 PM PDT
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Underwear Indicator Shows Recession Not Over Yet

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Believe it, underwear sales tell the truth about the times. It all comes form former US Federal Reserve chairman Alan Greenspan: Holes in the wallet indicate holes in men's underwear. In the past year, purchases of men's unmentionables have fallen down to the ankles.

The brief case for optimism: Underwear sales have started to firm up.

Still, economists suggest we've got a long way to go before men are back replacing their underpants on the regular. Don't look to women's underwear sales as a similar barometer. Research shows women stop splurging in bad times, but still spend on the basics.

Another sign that economic recovery is some time off? Restaurants are laying out fixed-price deals worldwide, as the dining industry feels people's pinched wallet. Downtown San Jose restaurants are the latest to pick up the trend, offering the best deals yet on prix-fixe menus. Good news if you're in the mood for a discount filet, but probably bad news if you're waiting for stocks to rebound.

From Lettuce Wraps at PF Chang's to filet mignon at Morton's, three-course prix-fixe menus are going for a great price. $30 will get you in the door and out on a cheap night on the town.

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