Goldman Unexpectedly Finds Signs Of Life In Working-Poor Consumer

Amid doom-and-gloom inflation forecasts from Democrat-leaning UMich respondents and port shortage panic fueled by left-leaning corporate media, Goldman analysts have uncovered something very unexpected: early signs of life among lower-income consumers.

Goldman analysts Kate McShane, Mark Jordan, and others published a note to clients on Tuesday, analyzing lower-income consumers through the lens of online trends—such as app downloads, web traffic, and store traffic—for select discretionary retailers, including AAP, BJ, TGT, and WSM.

What McShane and her team found was that "the health of the lower-income consumer (defined as households that earn <$30K annually) is indeed mixed but skew more positive than expected, with possible tailwind coming from lower gasoline prices, improved employment trends, and credit metrics."