Despite concerns about a recession, strong consumer spending could bode well for the consumer goods industry. To that end, investors could look to buy fundamentally strong consumer stocks The Procter & Gamble Company (PG), Edgewell Personal Care Company (EPC), and ACCO Brands Corporation (ACCO) this week.
J.P. Morgan strategist, Marko Kolanovic, stated, “While the economy’s recent resilience may delay the onset of a recession, we believe that most of the lagged effects of the past year’s monetary tightening have yet to be felt, and ultimately a recession will likely be necessary to return inflation to target.”
