May 13, 2019

Consumer Confidence Inches Higher in May

by Jharonne Martis.

“The American economy continues to grow with strong recent GDP and employment reports. These positive signals appear to coincide with improvements in consumer  sentiments,” reports Chris Jackson of Ipsos. “It is clear that, at the moment least, market experts concerned about the potential for an economic contraction are not catching hold of public imagination.”

Jharonne Martis, Director of Consumer Research at Refinitiv, said, “In the U.S. retail landscape, ongoing strength in consumer spending continued in Q1. The Refinitiv Retail and Restaurant Q1 earnings index is expected to show a rise of 6.3%. However, retailers started guiding for Q2 2019. So far, there have been 10 negative EPS preannouncements for Q2 2019 compared to 2 positive preannouncements. Accordingly, analysts polled by Refinitiv have been lowering Q2 estimates. As a result, the Refinitiv Retail and Restaurant Q2 earnings index is expected to slow down to a 3.3% growth.”

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