Home Depot's warning: Customers have ‘greater uncertainty in the economy' as sales outlook slashed

Home Depot warned that consumer sentiment on the economy is souring as it slashed its sales forecast for the second half of the year.The big box home improvement chain on Tuesday blamed high interest rates and fears of a possible downturn in the economy for disappointing second-quarter earnings.Richard McPhail, Home Depot’s chief financial officer, told CNBC on Tuesday that consumers have adopted a “deferral mindset” since the middle of last year, resulting in lower spending on home-improvement projects. 3 ...