Americans are behaving like they're in a recession, Whirlpool warns

[Yo_Mama_Been_Loggin]

Appliance demand has deteriorated significantly, according to Whirlpool, which is now warning that trends look worse now than during some recessionary times of the past.

Specifically, customers seem to be cutting back on discretionary purchases of appliances. Whirlpool which makes goods like refrigerators and washing machines, noted Thursday that industry data showed a 7.4% drop in appliance demand during the first quarter.

”This level of industry decline is similar to what we have observed during the global financial crisis, and even higher than during other recessionary periods,” CEO Marc Bitzer said on the earnings call, according to a FactSet transcript.

Whirlpool shares were down more than 12% in morning trading on Thursday.

https://www.msn.com/en-us/money/markets/americans-are-behaving-like-they-re-in-a-recession-whirlpool-warns/ar-AA22BnZH

When the basics are more expensive you're less likely to buy other things.

[Johonny]

1. K shaped economy

It feels like a recession for many of their consumers...

[leftstreet]

2. LOL their "behavior," instead of a crap economy

If we could just get them to behave!!

DURec

[RT Atlanta]

3. and completely 'self inflicted'

thanks to 'tariffs' (taxes!)

war of aggression and choice in Iran at israel's behest

[SWBTATTReg]

4. We are in a tRUMP recession, all caused by tRUMP himself. I will NOT spend anymore than I have to while tRUMP

is in office. NOT one solitary dollar in extra spending above my normal grocery shopping patterns (and as a matter of fact, I've shut down a lot of this spending, slowed it down, that is, I don't get XYZ every time I go grocery shopping, just once every 10 times or so. Also, big ticket items, nope.

I call it the tRUMP effect. Just thinking about tRUMP causes me to see red, and not my shopping list.

Every little bit helps, I think. I won't support any sort of spending that would benefit tRUMP in the least.

[Amishman]

5. Even many of those not hurting right now are scared shitless that their jobs will get the axe for AI

My wife and I are focusing on paying down debt as aggressively as possible and shelved one major vacation idea and a big home improvement project. Quite a few others I know - especially those with office jobs - are doing the same.

The future is uncertain and frightening.

Going in to midterms our message needs to be one of economic security and job creation / preservation. People are afraid - promise them reasonable, actionable things that will help put their minds at ease. Not just for those at the bottom half of the income ladder, but everyone not in the top 10%.

[flvegan]

6. Some of us also don't want another wifi connected device that will 1. break in a year and

2. insist on shoveling 100 more ads into my life everyday.

Fuck you.