Transcript for Springtime for Economy
The economy is heating up tonight you could see it and the stock market the Dow closed up more than 200 points the highest close since December 2007. Almost a year before the recession again. And we have news tonight about something else heating up those numbers believe it or not it is this record heat the winter that did not happen so what's the connection. ABC's David here is here right now -- tell -- it. Diane no question is more than pollen in the air tonight economists across the board telling me today that this warmer winter. Is still bringing a swift winds but for the economy tonight here the new numbers they say prove it. Close to this country tonight temperatures aren't the only numbers on the rise Americans who largely weight during these winter months before spending on those projects are getting in line early. Just today we learned American spent nearly 408 billion dollars in stores last month. Six point 5% more than this time last year Home Depot alone profits up 32% this last quarter. The company told us two -- been forced to change what it hasn't -- move out the shovels and portable heaters movie in the roofing deciding to patio furniture. Home Depot and Lowe's -- to hire 1101000. Seasonal workers between them. Americans are buying bordering this warm weather. You can do more home improvement I'm your home repair the -- that you -- -- -- sprain but it didn't take as long to spot the bags from those homes stores spring shopping so. Yeah but it's only -- -- -- -- is so rich okay this shopper out earlier too little organizing them. Right now and this is another bit of organized. And you got your sunglasses -- on March. But it's far bigger than just one shop in. I look at construction. 52000 new jobs in just the last two months after seeing just 32000 new jobs -- construction for all of last year. World news viewer Alex to Perry sending me this video to date zoom in on the sign. Just hired to -- that home. -- -- economy -- -- is this spending money coming from. Part of it the money saved in heat. We asked economics professor Austan Goolsbee to do the math that -- -- year. The average family pays. Little under 900 dollars for -- -- But this year it looks like they're only gonna have to pay around 650. So it's really a tax cut about 250 dollars and into -- -- where winter is more extreme to see things more extreme to. And -- Springfield Massachusetts gardening today for at the patio furniture. Because since there's been some mild I realize -- savings of at least six of 700 dollar from oil they'll. Question that's a lot of money but the economists I spoke with today are all asking the same question is this boost in spending only temporary does it merely replace the spending would typically see. When spring truly lives or is this whether it's simply the -- we -- die and to get consumers back out into the stores and to spend. But it certainly saving a lot of money six to 700 dollars to difference.
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