1419 ET - Consumers are spending their money on products that could be hit by tariffs, like cars and electronics, and in turn directing some dollars away from staples, according to Bank of America analysts, based on company comments during BofA's Consumer Conference in Miami this week. The analysts say companies were cautious on 2025 "given sluggish Q1 trends, volatility around tariffs and unknown changes from the US immigrant/migrant labor pool that may be exhibiting both different work & social behaviors," they say. BofA lowered its 1Q organic sales estimate for Coca-Cola partly on consumer softness in North America and Europe. As for overall consumer confidence, the University of Michigan preliminary Consumer Sentiment Index earlier today fell to its lowest point since 2022. (katherine.hamilton@wsj.com)
(END) Dow Jones Newswires
March 14, 2025 14:20 ET (18:20 GMT)
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