Next week is the Chinese Lunar New Year. And I could not feel any festive atmosphere around me. Except for the beautiful decorations at the shopping malls, there isn’t much happening around me to indicate the Chinese New Year is coming. Consumer sentiment is way low. I can feel it in my bones.

In previous years, I could see people carrying cases of Mandarin oranges. Many businesses would buy these oranges, and also hampers, to be given away to their clients. This usually happens two weeks before up until Chinese New Year. I could barely see this happening this year.

Many businesses have cut down on spending. This year, none of my company’s suppliers printed any 2009 calendars.

My parents came back from shopping to buy groceries for donating to orphanage. We did this during the Chinese New Year last year, and we want to do it again this year. My parents were surprised with how expensive the groceries have become. People are finding it more difficult to stretch their budget.

The Chinese New Year is one of those times when businesses would spend, and consumers would buy. If this period is already difficult, I cannot imagine how much worse it will become after the Chinese New Year.

As for myself, every year, I would buy new clothes for Chinese New Year. But this year, I may only buy a new T-shirt.