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Uh oh.... Not good for the Progressives...comes at a pretty bad time.
US consumer finally losing the will to shop
James Mackintosh
Overall sales growth below forecasts and sales excluding cars and petrol flat
When the going gets tough, investors have grown used to betting on the tough going shopping. Every wobble of the past few years saw the consumer ignoring currency collapses, geopolitics and even government brushes with bankruptcy, and instead heading for the mall.
The same has been true this year. The best-performing stocks in the US, UK and eurozone are in the defensive consumer staples and the racier consumer discretionary sectors. Almost no other sectors managed to make money, at least in dollar terms. Even in emerging markets, over the past six months consumer stocks have been the best performers, although they still fell.
http://www.ft.com/cms/s/0/bbcfc2fc-728d-11e5-a129-3fcc4f641d98.html#axzz3oafj0UoS
US consumer finally losing the will to shop
James Mackintosh
Overall sales growth below forecasts and sales excluding cars and petrol flat
When the going gets tough, investors have grown used to betting on the tough going shopping. Every wobble of the past few years saw the consumer ignoring currency collapses, geopolitics and even government brushes with bankruptcy, and instead heading for the mall.
The same has been true this year. The best-performing stocks in the US, UK and eurozone are in the defensive consumer staples and the racier consumer discretionary sectors. Almost no other sectors managed to make money, at least in dollar terms. Even in emerging markets, over the past six months consumer stocks have been the best performers, although they still fell.
http://www.ft.com/cms/s/0/bbcfc2fc-728d-11e5-a129-3fcc4f641d98.html#axzz3oafj0UoS
