February 15, 2019

Government Shutdown Dents Consumer Confidence

by Jharonne Martis.

“The month long government shutdown was not kind to consumer confidence,” reports Chris Jackson, Vice President at survey research firm Ipsos. “Political gridlock and seemingly stagnant negotiations with China over trade have had a negative effect on public outlook toward the economy this month. Given that real job security is unchanged this month, we will see in March if this drop is solely due to the shutdown or if it is a sign of a larger weakening.”

Jharonne Martis, Director of Consumer Research at Refinitiv, said, “Despite the government shutdown, consumer spending still seems to be healthy for the first quarter of 2019. Analysts polled by Refinitiv are looking at a 3.2% Same Store Sales increase for Q1 2019, which is slightly above the same time last year. What’s more, it suggests that the strength in consumer spending we experienced during the holiday season might still carry on into the first half of 2019.”

To download the full report, click here.

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