HARRISWILLIAMS - CPG Update Feb 2011 - Consumer_All_Read_February_2011

HARRISWILLIAMS - CPG Update Feb 2011 - Consumer_All_Read_February_2011

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Unformatted text preview: www.harriswilliams.com Member FINRA/SIPC Consumer and Retail Industry Update February 2011 February 2011 For more information regarding our consumer experience, please contact Glenn Gurtcheff ( [email protected] ), Tim Alexander ( [email protected] ), Jeff Cleveland ( [email protected] ), or Ryan Budlong ( [email protected] ) at (612) 359-2700 or Vince Carey ( [email protected] ) at (415) 288-4260. • During the summer of 2008, as the world economy and capital markets plunged into a state of turmoil, a consensus quickly developed that the trauma of the “Great Recession” would prove so severe as to permanently change the psychology of the American consumer. Phrases such as “New Frugality” emerged to express the nearly universal view that current attitudes favoring careful spending, increased saving, and value-oriented consumer behaviors would persist far longer than the economic conditions which produced them. To test this idea, The Parthenon Group, in its latest publication Outlook for the American Consumer , has conducted two parallel streams of research over the last 24 months, the results of which contradict the conventional wisdom. Read the article here . • Economists have grown more optimistic about the outlook for U.S. growth in 2011, predicting the expansion will accelerate as the year progresses, according to the latest Wall Street Journal forecasting survey. Data on trade, retail sales, and consumer sentiment has continued to show signs of improvement. In addition, economists are generally encouraged by news from Washington on the tax-cut compromise that included an unexpected temporary reduction in payroll taxes in addition to an extension of the Bush-era tax cuts. Read the article here . • Consumer confidence rose in February to the highest level in eight months as decreasing unemployment lifted Americans’ spirits. The Thomson Reuters/University of Michigan preliminary index of consumer sentiment for the month climbed to 75.1 from 74.2 in January, in line with the median forecast of economists surveyed by Bloomberg News . The sentiment data showed households’ perceptions of the economy and job market turned positive this month for the first time in seven years, signaling consumer spending may keep contributing to the expansion. Read the article here . Consumer and Retail Industry Update 1 of 16 Richmond Phone: (804) 648-0072 Fax: (804) 648-0073 Boston Phone: (617) 482-7501 Fax: (617) 482-7503 Cleveland Phone: (216) 222-9870 Fax: (216) 222-0158 London Phone: +44 203 170 8838 Fax: +44 207 681 1907 Minneapolis Phone: (612) 359-2700 Fax: (612) 359-2701 Philadelphia Phone: (267) 675-5900 Fax: (267) 675-5901 San Francisco Phone: (415) 288-4260 Fax: (415) 288-4269 Contacts What We’ve Been Reading February 2011 Equity Trading Overview Key Trading Statistics (detail begins on page 6) Public Company Sector Performance (12-month % change in stock price) Change in Stock Price...
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HARRISWILLIAMS - CPG Update Feb 2011 - Consumer_All_Read_February_2011

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