I See Paris, I See France...

Yet another post on an index?  No, The Fashionomist has not lost her mind.  These indices are interesting, though blatantly unscientific means by which to gauge the economy.  But a fascinating and perhaps convincing index has captured The Fashionomist's imagination.  A couple Sundays ago, The Chicago Tribune had its look back on 2011 so far.  Below the predictable spots on the Japanese earthquake/tsunami, the royal wedding, and Osama bin Laden's death was a curious little tagline:  "The Economy and Underwear."

Apparently, it's not just the girls that can see economic changes via clothing.  Skivvies are (allegedly) an excellent way to judge economic health.  Men tend to put off buying underwear during a recession - after all, not too many are privy to those necessities.  Why splurge on tighty whiteys when you need to put food on the table, pay for astronomically expensive gas, and pay bills?

 

But Hanes's stock price has steadily climbed, showing promise of an economy bouncing back.  Other companies specializing in underwear are reporting similar results, sparking chatter about whether the Underwear Index has kicked into high gear.  Research company Mintel predicted 2013 was the return of underwear sales/bounceback of the economy, but it seems like 2011 is Year of Recovery.

 

The Fashionomist finds this index perhaps a better one than the one she previously favored, the Hemline Index.  Even the economist of all economists, Alan Greenspan, is a fan of the Underwear Index, who told NPR's Robert Krulwich years ago that men's undies are the first to be delayed in restocking when a budget tightens.  Note the entire conversation centers around men's underwear - females tend to not only replace underwear more often but also make more lingerie and other extraneous underwear purchases.  (However, interestingly, bras are an exception to this rule, as women tend to purchase more brassieres as the economy is on an upswing.)

Just another index?  The Fashionomist can't say, but perhaps your underpants will.


*The Fashionomist*