INSUBCONTINENT EXCLUSIVE:
Investors look for consumer pressure ahead of next tariffs - The TheIndianSubcontinentNever miss a great news story!Get instant
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Mutual Funds, Bonds - MoreInvestors and analysts are anxious about the impact of Trump’s planned 10% tariff on the remaining $300 billion
in Chinese imports.Reuters|Aug 12, 2019, 09.41 AM ISTAFPJuly retail sales data is due out on Thursday
Excluding autos, sales are expected to have grown 0.3% compared with 0.4% in June, according to a Reuters poll
As President Donald Trump prepares to slap new tariffs on Chinese imports, investors are bracing for signs of pressure on US consumers as
top retailers begin reporting quarterly results next week and key consumer sentiment and retail sales data is released.
Investors and
analysts are anxious about the impact of Trump’s planned 10% tariff on the remaining $300 billion in Chinese imports, which will largely
affect consumer goods, unlike the previous round that fell heavily on industrial and business products
That could be a double-whammy for the US economy, which is about 70% driven by consumers, and retailers.
July retail sales data is due out
Excluding autos, sales are expected to have grown 0.3% compared with 0.4% in June, according to a Reuters poll
On Friday, the University of Michigan’s preliminary August reading of consumer sentiment is expected to show a slip to 97.7 from 98.4 in
July.
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