Retailers are biting their nails because of the large decline in consumer confidence. But it remains to be seen whether consumers will vote with their feet.
More Quotes from Lynn Reaser:
The improving job market is boosting consumer sentiment. Employees are beginning to see a somewhat better chance of receiving wage increases this year. If oil prices stabilize as we expect, consumers this year should see their paychecks stay ahead of inflation.Lynn Reaser
We expect the 12th consecutive increase in the target fed funds rate and really no change in the tactics deployed in recent meetings.
Lynn Reaser
We could very much be close to the peak at this time.
Lynn Reaser
The revised spending number is more consistent with other data we have seen on consumer spending for May, including auto sales. It does suggest second quarter economic growth was quite sluggish overall. But we already knew that. It probably doesn't change the outlook for the second half of the year.
Lynn Reaser
Americans are saving very little out of their current income. The primary vehicle that's doing the savings for households is their home.
Lynn Reaser
These numbers really indicate some pockets of weakness. It suggests manufacturers are having a difficult time in some sectors and it does suggest some areas of slowing within the economy.
Lynn Reaser
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