Reuters - Video

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

Video

Consumers and The Cliff

Thursday, November 15, 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.

Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code

Consumers and The Cliff

Thursday, November 15, 2012 - 01:32

Editors' Picks »

Moving Pictures »

Images of November Images of November

Tue, 02 Dec, 2014 - (0:30)

Images of October Images of October

Mon, 03 Nov, 2014 - (0:57)

The world in a city The world in a city

Fri, 31 Oct, 2014 - (1:30)

Real-life superheroes Real-life superheroes

Tue, 28 Oct, 2014 - (1:44)

Dance of the northern lights Dance of the northern lights

Mon, 20 Oct, 2014 - (1:08)

Images of September Images of September

Thu, 02 Oct, 2014 - (1:00)

Still missing – MH370 Still missing – MH370

Fri, 05 Sep, 2014 - (2:05)

Burning Together Burning Together

Mon, 01 Sep, 2014 - (2:23)

Mending dolls, teddies and hearts Mending dolls, teddies and hearts

Fri, 22 Aug, 2014 - (3:12)

Images of August Images of August

Fri, 29 Aug, 2014 - (1:00)

Dateline Asia »

North Korea to blame for Sony hack: source North Korea to blame for Sony hack: source

Thu, 18 Dec, 2014 - (1:10)

China's house prices fall again China's house prices fall again

Thu, 18 Dec, 2014 - (1:10)

China's child labor problem China's child labor problem

Thu, 18 Dec, 2014 - (2:19)

Measuring up North Korea's heir Measuring up North Korea's heir

Wed, 17 Dec, 2014 - (1:03)

Russia worries rock emerging markets Russia worries rock emerging markets

Wed, 17 Dec, 2014 - (1:14)

Seoul raises the "nut rage" stakes Seoul raises the "nut rage" stakes

Tue, 16 Dec, 2014 - (1:03)

Sydney in shock after hostage horror Sydney in shock after hostage horror

Tue, 16 Dec, 2014 - (1:07)

Not all merry and bright in China's manufacturing sector Not all merry and bright in China's...

Tue, 16 Dec, 2014 - (1:29)

Beneath the surface of Abe's big win Beneath the surface of Abe's big win

Mon, 15 Dec, 2014 - (1:15)

Some hostages escape from Sydney cafe Some hostages escape from Sydney cafe

Mon, 15 Dec, 2014 - (1:06)

Reuters Investigates »

Where the sea is closing in Where the sea is closing in

Thu, 20 Nov, 2014 - (3:41)

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 - (13:22)

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)