Are consumers still spending?

Livewire News

Scott Krisiloff and his team at Avondale Asset Management read dozens of transcripts from earnings calls in the US in order to get a sense for what’s happening in the ‘real economy’. This week, the message has been that despite problems in resources and European banks, the US consumer is holding up well. “Those of us that are on Wall Street can sometimes be overwhelmed by the problems that we see on the horizon. And I think, from time to time, it’s important to step back, take off your Wall Street glasses, and put on industrial America glasses. And I think things don’t look as bad when you look... with that lens.” said Loews Corporation CEO, Jim Tisch. CVS hasn’t seen many shifts in consumer behavior. “Overall I’d say things are holding fairly steady. We certainly have seen the consumer - I wouldn’t say any change from what we were seeing in the fourth quarter.” said CVS president Helena Foulkes. See the full collection of comments: (VIEW LINK)


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