Scott Krisiloff, Editor of The Transcript, studies earnings and conference calls. He anticipates that after the July jobs report and stock market selloff, executives will be asked about recession worries more, but he notes that"we had been seeing broadening consumer softness, slowdown in growth... so these were the precursors to things that we're seeing today."
And broadly, when, when you look at those earnings calls Scott and they talk about consumer weakness, was it was it specific consumers?Well, you know, for the past probably 18 months, almost two years, we have been seeing that lower income consumers were showing a lot more weakness than higher income consumers.
You actually have had weakness within the economy for a much longer period of time, up to eight quarters in areas like transports in areas like capital markets where capital markets have been more or less frozen IP O markets for a long time now.And so you've actually had this like recession going on underneath the hood of the economy that as the FED is starting to lower interest rates, that provides a springboard for more interest rate, sensitive sectors to start to rebound.
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