Consumer confidence is on the move, according to the University of Michigan’s preliminary results for March 2019, rebounding for the second straight month. Confidence rose from 91.2 in January, to 93.8 in February and up to 97.8 in March. The report found “The early March gain in sentiment was entirely due to households with incomes in the bottom two-thirds of the distribution, whose sentiment rose to 97.4 from 90.0 in February.”
That sentiment, and the solid confidence of small business owners in general, are why SBE Council Karen Kerrigan dismissed the continuing talk of a coming recession in her latest appearance on Fox Business.
According to Kerrigan, 2019 should be another healthy year for growth in the retail sector, with small innovative retailers driving disruption, and retailers of all kinds responding to ever-changing consumer demands and needs. However, she added that the outlook could be brighter if there was a resolution on the U.S. trade dispute with China, which would also help to clear the deck for passage of the US-Mexico-Canada Trade Agreement (USMCA) and future movement on trade deals in the pipeline. She joined panelists Paul Dietrich, CEO of Fairfax Global Markets and Mark Avallone, President of Potomac Wealth Advisors, for the discussion on Cavuto’s Coast-to-Coast with guest host Shane McConnell.