There is a lot of economic uncertainty out there. With the rise in interest rates, economic activity across the board has started to dip. From factory output to housing, it’s been a mixed bag for the economy. That is, except for consumers. People have continued to open their wallets despite all the pressures coming down on them.
However, that may be changing.
The latest consumer data has been poor, while several consumer-focused stocks have reported less-than-ideal earnings. The question now is whether or not consumers may be officially tapped out and the time to move on from consumer discretionary names is at hand.
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