Not Pretty! Consumer Spending Collapses

Richard Yamarone of Bloomberg TV summarizes:
"In recent weeks C-suite executives in the Bloomberg Orange Book have increasingly cited real disposable personal incomes as a concern. In fact, over the last couple of weeks, no fewer than a dozen consumer related companies made mention of the deterioration in incomes as a risk to business and performances.

"Spending on discretionary items has softened in recent months. Four of our ‘Fab Five’ spending barometers fell or were unchanged in January from December. Comments from the Bloomberg Orange Book suggest further deterioration ahead."