Demand and Supply in action - Fireworks
Monday, November 01, 2010
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So we have had Halloween and as my blog yesterday showed spending on Halloween has risen considerably over the last decade. Not so good news for the fireworks industry though ahead of the 5th November. It looks like the recession and the government spending cuts will put a dampener on next years fireworks sales.
The largest regular events – the New Year’s Eve display in London and Edinburgh, which costs more than £1m – are paid for out of local government budgets that are starting to be cut back.
As a population our average real incomes have not been rising significantly meaning we are having to consider more carefully what we spend our money on. These two factors coupled together mean that the demand curve for fireworks is likely to shift to the left over the coming year.
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