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by Jharonne Martis.
“April’s Refinitiv/Ipsos Primary Consumer Sentiment Index finds that overall American consumer confidence has declined slightly,” James Diamond of Ipsos states. “In the first month since the collapse of Silicon Valley Bank and the subsequent financial instability that ensued, Americans report feeling a little less confident in the current economy, breaking a four‐month holding pattern. This doubt permeates to Americans’ expectations of the economy 6 months from now, with the Expectations sub‐Index at its lowest point in four months.”
Jharonne Martis, Director of Consumer Research at Refinitiv, said, “Q1 2023 earnings is starting at a lower threshold. Analysts polled by Refinitiv have been downgrading Q1 estimates heading into earnings season. This given that 21 retailers issued negative preannouncements, while only six issued positive EPS guidance.”
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