Reuters - Video

EDITION: U.S. | U.K. | IN

Video

Consumers and The Cliff

Thursday, 15 Nov, 2012 - 01:32

Nov. 15 - As the economy edges closer to the fiscal cliff, consumer spending is being closely watched for signs of trouble. Bobbi Rebell reports.

▲ Hide Transcript

View Transcript

Talking to some Americans you would think there wasn't any real concern about the fiscal cliff- just as consumers gear up to do their holiday shopping. SOUNDBITE: CONSUMER (ENGLISH) SAYING: "I should be worried! I'm not worried." SOUNDBITE: TIM, CONSUMER, (ENGLISH) SAYING "I think some people are going to outspend their limit as they do every year" The Conference Board's Lynn Franco is not surprised by the lack of concern. SOUNDBITE: LYNN FRANCO, DIRECTOR OF ECONOMIC INDICATORS, THE CONFERENCE BOARD (ENGLISH) SAYING: "I think maybe part of it is a little bit of lack of understanding. Also, it hasn't been forefront in the news. Plus there is still time. So I think there is some optimism that there will be some sort of a resolution." But Franco says businesses that cater to consumers are adjusting their strategies- getting more aggressive with promotions in case consumers pull back as the reality of the fiscal cliff sets in. SOUNDBITE: LYNN FRANCO, DIRECTOR OF ECONOMIC INDICATORS, THE CONFERENCE BOARD (ENGLISH) SAYING: "Well, we've already seen some of that. There already is some apprehension as to what consumers are going to spend. So we are already seeing the deals at the forefront. So consumers are, I think, are gearing up to spend a little bit I think retailers are also aware of this. I don't think the real impact of the fiscal cliff will be felt until Q1 as opposed to the holiday season." But the National Retail Federation points to new data showing a shift may be starting already. Senior Vice President David French: SOUNDBITE: DAVID FRENCH, SENIOR VICE PRESIDENT, NATIONAL RETAIL FEDERATION (ENGLISH) SAYING: "There is some recent data that I saw this morning from BIGresearch that suggests that 42 percent of consumers are pulling back on their spending because of the uncertainty. And just Thursday a new Gallup poll found 71 percent of Americans are following the news about the fiscal cliff very closely or somewhat closely.

Consumers and The Cliff

Thursday, 15 Nov, 2012 - 01:32

The Exchange »

The Exchange: Hot commodity The Exchange: Hot commodity

Wed, 16 Jul, 2014 - (9:25)

The Exchange: Constitutional crusade The Exchange: Constitutional crusade

Wed, 25 Jun, 2014 - (11:35)

The Exchange: The value of money The Exchange: The value of money

Mon, 02 Jun, 2014 - (9:53)

The Exchange: China’s Second Continent The Exchange: China’s Second Continent

Tue, 27 May, 2014 - (9:35)

The Exchange: A master of business arts The Exchange: A master of business arts

Thu, 08 May, 2014 - (8:24)

The Exchange: America's bankrupt cities The Exchange: America's bankrupt cities

Mon, 05 May, 2014 - (8:52)

The Exchange: Let the rocking commence The Exchange: Let the rocking commence

Tue, 08 Apr, 2014 - (8:13)

The Exchange: The Moneyball fallacies The Exchange: The Moneyball fallacies

Mon, 24 Mar, 2014 - (9:54)

Is doing good a good business? Is doing good a good business?

Mon, 17 Mar, 2014 - (7:38)

Oddly Enough »

Eco-friendly bench keeps your tech fully charged Eco-friendly bench keeps your tech fully...

Tue, 19 Aug, 2014 - (1:55)

A cheetah cub and a puppy make friends A cheetah cub and a puppy make friends

Tue, 19 Aug, 2014 - (0:48)

Bug eaters unite in Tokyo Bug eaters unite in Tokyo

Tue, 19 Aug, 2014 - (1:23)

Tango dancers put best feet forward Tango dancers put best feet forward

Tue, 19 Aug, 2014 - (1:08)

Giraffe calf checks out new surroundings Giraffe calf checks out new surroundings

Mon, 18 Aug, 2014 - (0:42)

Bolivian priest blesses beloved pups Bolivian priest blesses beloved pups

Sun, 17 Aug, 2014 - (1:25)

Gamescom opens to the public Gamescom opens to the public

Thu, 14 Aug, 2014 - (1:05)

Reuters Investigates »

Re-homing victim: "I could have been dead" Re-homing victim: "I could have been dead"

Wed, 19 Feb, 2014 - (8:24)

Cops and loggers in the Amazon rainforest Cops and loggers in the Amazon rainforest

Fri, 10 Jan, 2014 - (4:01)

"Passed around like a dog" "Passed around like a dog"

Thu, 29 Aug, 2013 - (6:32)

Adopted, then abandoned online Adopted, then abandoned online

Thu, 29 Aug, 2013 - (13:21)

How the DEA keeps its secrets secret How the DEA keeps its secrets secret

Mon, 05 Aug, 2013 - (1:36)

How education lost its role as the great equalizer - Reuters Investigates How education lost its role as the great...

Mon, 17 Dec, 2012 - (7:52)

Jihad Jane: From abused child to American jihadist - Reuters Investigates Jihad Jane: From abused child to American...

Sun, 09 Dec, 2012 - (10:01)

Jihad Jane: The order to kill - Reuters Investigates Jihad Jane: The order to kill - Reuters...

Mon, 10 Dec, 2012 - (10:39)

Moving Pictures »

"Old timers" sail the Chesapeake Bay "Old timers" sail the Chesapeake Bay

Mon, 11 Aug, 2014 - (2:27)

Burned memories Burned memories

Fri, 08 Aug, 2014 - (3:02)

Images of July Images of July

Fri, 01 Aug, 2014 - (1:20)

World Cup: passion on the pitch World Cup: passion on the pitch

Fri, 11 Jul, 2014 - (1:00)

A refugee in America gives back A refugee in America gives back

Thu, 03 Jul, 2014 - (3:25)

A long search for refuge A long search for refuge

Fri, 20 Jun, 2014 - (3:04)

World Cup: Around the globe in 50 goals World Cup: Around the globe in 50 goals

Fri, 06 Jun, 2014 - (1:08)

VIVID – Sydney’s spectacle of light VIVID – Sydney’s spectacle of light

Fri, 30 May, 2014 - (1:37)

The week that changed Boston The week that changed Boston

Mon, 14 Apr, 2014 - (3:28)