So the consumer is not dead after all. In a week that has already seen Apple skip blithely past expectations, unburdened by the recession, Amazon also reported strong third quarter results on Thursday. Sales for the online retailer were 28 per cent higher than last year. Earnings were around 40 per cent ahead of the consensus of analyst forecasts, prompting the shares to soar in after-market trading.

Extrapolating any one company’s performance to the wider economy though has its risks – for instance does Thursday’s better than expected sales growth at McDonald’s indicate greater consumer willingness to spend, or further trading down? Amazon may be benefiting from a reluctance to visit shopping malls. But the company is also tempting buyers with programmes offering unlimited shipping for flat rates, and by growing its customer base – active accounts were up 17 per cent to 98m.