August 16, 2019

Consumer Confidence Weakens In August

by Jharonne Martis.

“A combination of trade tensions, volatile markets, steady unemployment rate, and a slow down in the hiring pace seem to have inserted some doubts in consumers’ minds,” reports Chris Jackson of Ipsos. “Consumers are becoming increasingly aware of the potential impact of the ongoing trade tensions with China beyond just the looming threat of higher prices on goods; they are also anticipating higher uncertainty regarding job security and stability.”

Jharonne Martis, Director of Consumer Research at Refinitiv, said, “Retailers are reporting Q2 earnings and discussing China tariffs, and warning us not to expect much from them in the coming quarters. To date, there have been 19 negative EPS preannouncements for Q3 2019 compared to seven positive preannouncements. Accordingly, analysts polled by Refinitiv have been lowering Q3 estimates.”

To download the full report, click here.

Watch the interview with CNBC where Jharonne Martis discusses ways retailers can survive the trade war.

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