Consumers too distracted to spend

AMERICANS are too distracted or distraught by this year’s wild presidential campaign to think about getting a dishwasher, buying a recreation vehicle or opening a doughnut shop.

And the topsy-turvy race could be crimping furniture sales, hotel bookings and even temporary help hiring.

At least that is the word from a clutch of corporate executives who, in recent weeks, have laid at least some blame for their companies’ rocky performances or uneven consumer demand at the feet of constantly bickering White House contenders Hillary Clinton and Donald Trump.

Since the start of last month, executives from more than 80 US companies have made some mention of the US election during quarterly conference calls with Wall Street analysts and investors, based on a Reuters analysis of call transcripts.

In many cases, their remarks have come in response to specific questions from call participants about whether the long campaign season had had an impact on results.

Some, though, have specifically pointed to the election as a factor in their earnings, including by damping consumer or business spending.

Whirlpool chief executive Jeff Fettig believes consumer confidence is weakening due to the elections, but others disagree, saying companies are using the elections to blame their own poor performances.