Consumer Discretionary Spending Weakness Broadens
Unexpected decline in consumer confidence signals weakening economic momentum
Too little corroboration in the last 3 days to call a trend (5 articles). Watching for it to gain traction.
Mainstream financial press is carrying this — attention has broadened beyond specialist outlets.
"The S&P 500 (SPX) closed lower on Friday following a decline in consumer sentiment and weaker-than-expected retail sales."
"The University of Michigan's preliminary consumer sentiment survey came in at 51 in August, below expectations of 54.5, according to economists polled by Reuters."
"Weaker demand at several consumer-facing businesses, including its network of 103 car and truck dealerships, Fruit of the Loom and Forest River recreational vehicles, reflected changes in consumer confidence."
"The unexpected decline in US July consumer confidence weighed on market sentiment on Tuesday. The Conference Board US Jul consumer confidence index unexpectedly fell by -1.4 to 90.8, weaker than expectations of an increase to 92.4."
"the unexpected decline in US July consumer confidence is weighing on market sentiment today. The Conference Board US Jul consumer confidence index unexpectedly fell by -1.4 to 90.8, weaker than expectations of an increase to 92.4"