Reuters - Video

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

Video

Consumers and The Cliff

Thursday, Nov 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.

Consumers and The Cliff

Thursday, Nov 15, 2012 - 01:32

Money »

S&P 500 just shy of record S&P 500 just shy of record

5:35pm EDT - (2:23)

Apple hits $100 a share Apple hits $100 a share

Tue, Aug 19, 2014 - (2:06)

Nasdaq closes at 14-year high Nasdaq closes at 14-year high

Mon, Aug 18, 2014 - (2:23)

Putin puts Wall Street in buying mood Putin puts Wall Street in buying mood

Thu, Aug 14, 2014 - (2:10)

We've become a promotional culture-RetailMeNot's Bodge We've become a promotional...

Thu, Aug 14, 2014 - (4:39)

Dow back to positive territory for year Dow back to positive territory for year

Wed, Aug 13, 2014 - (2:18)

Markets cheer Russia's Ukraine exit Markets cheer Russia's Ukraine exit

Fri, Aug 08, 2014 - (1:50)

Russia, Iraq push Dow to three-month low Russia, Iraq push Dow to three-month low

Thu, Aug 07, 2014 - (2:27)

Wall Street gains but telecom disconnected Wall Street gains but telecom disconnected

Wed, Aug 06, 2014 - (2:28)

Stocks zapped by energy weakness Stocks zapped by energy weakness

Tue, Aug 05, 2014 - (2:46)

Stocks recover with refocus on earnings Stocks recover with refocus on earnings

Mon, Aug 04, 2014 - (2:19)

The Exchange »

The Exchange: Hot commodity The Exchange: Hot commodity

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

The Exchange: Constitutional crusade The Exchange: Constitutional crusade

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Reuters Investigates »

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

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

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

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

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

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

Adopted, then abandoned online Adopted, then abandoned online

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

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

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

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

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

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

Sat, Dec 08, 2012 - (10:01)

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

Sun, Dec 09, 2012 - (10:39)

Moving Pictures »

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

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

Burned memories Burned memories

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

Images of July Images of July

Thu, Jul 31, 2014 - (1:20)

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

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

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

Wed, Jul 02, 2014 - (3:25)

A long search for refuge A long search for refuge

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

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

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

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

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

The week that changed Boston The week that changed Boston

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