Wealthy Americans Drive Nearly Half of US Consumer Spending
TL;DR Summary
Wealthy Americans in the top 10% now account for nearly half of US consumer spending, supporting the economy amid a slowdown in hiring and rising debt issues among other income groups, but this reliance on the wealthy's spending could pose risks if their economic confidence wanes.
Topics:business#consumer-spending#economic-growth#economy#income-distribution#recession-risks#wealthy-americans
- Top 10% of Earners Drive a Growing Share of US Consumer Spending Bloomberg.com
- The economy is chugging along, but consumers are uneasy NBC News
- Moody’s economist: US avoids recession if well-to-do ‘keep spending’ The Hill
- Wealthy consumers account for nearly half of all US consumer spending Baton Rouge Business Report
- Tuesday discussion post Slow Boring
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