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Tight-Fisted or Rationale Consumers

5/2/2017
By Charles Payne, CEO & Principal Analyst

First quarter GDP numbers showed an extreme slowdown in consumer spending, backed up by recent retail sales data and this morning’s consumer income and spending data.

Real Deal

Consumers are spending but not the way they used to.  Year-to-date top winners in consumer discretionary underscore how the nation is living in the moment:

  • Gaming -WYNN +44%
  • Eating Out -CMG +28%
  • Binge watching -NFLX +24%
  • Cruising -RCL +23%

Be that as it may, overall consumers have become wiser and adjust to their own personal conditions swiftly. Incomes have slipped dramatically since spiking in December, and so is consumer spending. 

The good news is, this alleviates pressure on the Fed, but it’s worrisome in general, since consumer are now saving money with the same trepidation as we saw ahead of last year’s election.

Charles Payne
Wall Street Strategies


 

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