by Jharonne Martis.
“COVID‐19 cases, hospitalizations, and deaths, are climbing across the country. This, paired with new business shutdowns, appears to be greatly affecting American consumer confidence, which is down more than four points since last month. It is now at its lowest level since August after remaining virtually unaffected by the volatile election month,” Chris Jackson of Ipsos notes. “The upward trend experienced prior to election has reversed drastically this month. This has completely undone any improvement seen over the last three months.”
Jharonne Martis, Director of Consumer Research at Refinitiv, said, “The Refinitiv U.S. Retail and Restaurant Q3 blended earnings index is showing a ‐6.6% estimate. As another wave of COVID‐19 looms in the United States, the index is expected to drop to ‐22.3% for Q4. Still, the strongest sectors include leisure and household products. This suggests that consumers continue to seek to improve their “stay‐at‐home” experience this holiday season.”
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