What people are wearing can be just as good an indicator of the state of the economy as any government forecasts, it has been claimed.
If you are wearing a ripped or laddered pair of tights
or tatty old knickers, it could be a sign of bad times, according to lovemoney.com's Harvey Jones.
His Consumer Pants Index, which says that that people buy more pants when times are good, is based on the original weathervane of the link between wealth and fashion - the hemline indicator.
George Taylor, a professor of business in the US noted that during the great depression hemlines went down after having got progressively higher during the twenties.
It is thought that women could not afford silk stockings
after the Wall Street crash, and so started wearing long skirts again.
The trend followed throughout the twentieth century with hemlines rising to show off stockings
and bare legs in throughout the boom times of 50s and 60s before falling again in the strike-hit 70s.
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Posted by Emily Smith