March 13, 2020

Consumer Confidence Declines in March

by Jharonne Martis.

“The coronavirus outbreak and resulting market panic have more Americans spooked about the future of the economy,” reports Chris Jackson of Ipsos. “As consumers look forward, they see many storm clouds significantly impacting their confidence. However we do not yet see strong impacts on personal finances suggesting that the situation could turn if markets calm and the public health crisis is managed.”

Jharonne Martis, Director of Consumer Research at Refinitiv, said, “Correspondingly, analysts polled by Refinitiv are also cautious
about Q1 2020 earnings expectations. Especially since many retailers lowered their earnings guidance for Q1. For Q4 2019 retailers have an 8.9% estimated earnings growth rate, which is expected to drop to 2.3% for Q1 2020.”

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