Expert: men’s underwear sales indicate economic recovery

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NEW YORK - There are several quirky signs that point to a recovering economy.  Believe it or not -- the sales of men's underwear are are among them.

The sales of men's underwear increased 13 percent last year, while sock sales jumped 12 percent.

Matt Allgeyer of Wamoff Financial Planning says this is a positive sign for overall consumer spending.  He said when the economy improves, personal confidence rises and that means men are dating more, which leads to more investing and a jump in the economy.

"People are more comfortable.  People are putting their money back into the market," Allgeyer said. "They're more comfortable with investing.  They don't go as far as you would like them to go, as aggressive as you would like them to go, but they're back in."

There are mixed reports on how the rest of the retail industry is bouncing back, but sales have been slowly climbing since the recession.

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