U.S. Fund Managers Brace For Consumer Slowdown

According to Reuters, U.S. fund managers are selectively avoiding stocks in consumer companies as lofty valuations and concerns about declining earnings estimates. Low U.S. unemployment and rising wages should point to a healthy consumer, but worries about global growth have been wearing on consumer and investor moods. According to a Conference Board survey, U.S consumer confidence fell to a 1-1/2 year-low in January as a partial shutdown of the government and financial markets turmoil left households nervous.

http://feeds.reuters.com/~r/reuters/topNews/~3/LxK_tSNCUdI/u-s-fund-mana...

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