February 14, 2020

Consumer Confidence Down Slightly In February

by Jharonne Martis.

“While consumer confidence is slightly lower than this time last month, it is still much stronger than this time last year,” reports Chris Jackson of Ipsos. “Americans’ confidence in the economy appears to remain, though its possible that concerns about global markets and the spread of the coronavirus may have dampened this optimism slightly.”

Jharonne Martis, Director of Consumer Research at Refinitiv, said,”Likewise, retailers are concerned about store closures in China related to the coronavirus outbreak. To date, retailers have discussed the coronavirus in 28 earnings calls and are telling us that its it is very challenging to predict how long the outbreak will last and quantify its damage. As a result, retailers are also warning us not to expect much from them in the upcoming quarters. There has been more negative than positive EPS and revenue preannouncements for Q1 2020.”

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