Anyway you look at it, recent economic data shows, “Americans are being more cautious,” warns one strategist.
“When you keep hearing ‘recession,’ ‘recession,’ even if you have a job, you’re beginning to wonder by hearing this over and over again, when is it going to hit you,” LPL Financial Chief Equity Strategist Quincy Krosby told Yahoo Finance Live on Tuesday.
“Americans are being more careful and more judicious on how they spend,” she added.
Quincy points to consumers using their credit cards more frequently. Even splurging on vacations, such as Disney (DIS) theme parks — a point of strength last quarter — could mean families are clipping costs elsewhere.
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