I am just kind of curious what people's thoughts are that we will see reduced earnings in the upcoming or later quarters of this year. I do not want to speak for everyone, but most people I know are being effected by the inflation/higher gas prices/increasing costs overall, enough that they are reducing the amount of money they spend in general. Buying power has been reduced as well for the average consumer and I would imagine this would lead to reduced spending for most people.
Necessities aside, I would think that this would effect most business's beside your Walmart's, Dollar Generals, food companies etc. Although, the news that I have read has been reporting steady consumer spending as well as increased savings. But on the ground ( at least people I know ) I do not see that being the reality. Personally, I am driving less, cooking at home more and saving more money than I might normally because I am not sure what is ahead.
What are everyone's thoughts about how the current economic layout will affect consumer spending now and in the future? Also, do you believe that this will effect quarterly earnings this year? Will there be sectors unaffected? What sectors do you believe will take the biggest hits to earnings? Looking forward to hear everyone's thoughts. Thanks!
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