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Tight-Fisted or Rationale Consumers
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.
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:
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.
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