Thursday, February 18, 2010

The Dunkin Donuts index

Like many New Englanders, I pass several Dunkin Donuts restaurants on my way to work each day, and I always look at their parking lots. I'm not a coffee drinker, and I can't think of the last time I ate a doughnut, but I think that the DD parking lot is a good indicator of overall economic health.

When we first moved here--nearly four years ago now--the DD parking lot was jammed in the mornings, even very early in the morning. The drive-through lane frequently backed up into the street, and every parking space in the lot was full. Times were good. However, times have since changed.

The thinning of the crowds happened gradually, but a year ago, you could find only a small handful of cars in the lot.

Around the same time, the crowds at our favorite mall were similarly sparse. Finding a rockstar parking space was never a problem. Waiting in line at the cash register? No way.

The economy wasn't prosperous, but there were signs of hope. Our nearby shopping center was always crowded on Friday and Saturday nights, and restaurants had wait times for tables. People were still spending money, but they were being choosier about how they spent it.

Now, a year later, signs of an improving economy are all around me. While it hasn't resumed its glory days from 3+ years ago, the DD parking lot has seen an increase in traffic. Our favorite mall, which was tediously busy before Christmas, kept up the trend into January, a promising sign. And while the people in the mall from a year ago had empty hands, today's shoppers are weighted down with their purchases.

Additionally, last weekend during our drive to the museum, we were on very crowded highways. A crowded highway on a weekend tells me that people have money to spend, since it's difficult to leave the house and not spend money (at least for me). We also passed a mall in which nearly every spot in the lot was occupied (by either a car or a giant snow pile--the snow wasn't there to spend money but the cars' drivers certainly were).

My unscientific observations tell me that the economy is in recovery.

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