FINNENCE ▪ THE WIRE FILE
THE WIRE · № 84740
Video■ Mixed
US Consumer Is 'Roughed Up,' But Spending, Porcelli Says
KINDVideo
DIRECTION■ Mixed
SOURCES1
ENTITIES3
STORY SIZESTANDALONE
FIRST SEEN
LAST UPDATE
STATEactive
01 THE MACHINE READ
WHY IT MATTERS.
Consumer resilience via wealth effect supports spending, but weak wages could undermine sustainability.
Consumer spending resilient but wage weakness lingers
CATALYST TO WATCH
Retail sales or wage growth data
MAIN RISK
Wealth effect could fade if assets fall
FULL DISPATCH
Tom Porcelli, chief economist at Wells Fargo, says US consumers are "roughed up," but they are still spending. He says wages are struggling, but consumers are still feeling pretty good because a wealth effect is in place. He is on "Bloomberg Money." -------- More on Bloomberg Television and Market
02 THE STORY SO FAR
THE RECORD, IN ORDER.
STANDALONE ITEM — NOT YET FOLDED INTO A DEVELOPING STORY.
03 WHO'S INVOLVED
ENTITIES ON FILE.
CONTEXTConsumer
AFFECTEDJobs
AFFECTEDRetail
04 RECEIPTS
THE SOURCE RECORD.
1 SOURCES CONFIRMED05 PROPAGATION
WHAT THIS TOUCHES.
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KEEP READING THE MACHINE
Summaries are generated and may contain errors — every claim links its sources.