If the price of oil remains between 45 to 50 a barrel, that's not a good sign especially if we experience a very cold winter. Heating oil prices will go up and that's likely to dampen consumer spending during the winter months.
More Quotes from Ken Perkins:
We think the lag effect of higher rates will significantly affect consumer spending. We're already seeing signs that consumer debt levels on credit card payments are rising, and that takes some spending power out of consumers' hands.Ken Perkins
The Conference Board's November consumer confidence Index fell in November for the fourth consecutive month and was noticeably weak among lower income consumers.
Ken Perkins
On average, comparable sales grew 5.8 percent just in those three months compared to an average of 2.6 percent in the last six months of 2004, ... The first-half of the year will be a big challenge.
Ken Perkins
It was a complete egg that was laid there. By all accounts, they got killed in apparel.
Ken Perkins
Consumers really felt the pinch of higher gas prices and job growth is stagnant.
Ken Perkins
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