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Is U.S. consumer spending fueled by the wealthy ?
· 31.10.2023 · 22:35:16 ··· Dienstag ⭐ 0 🎬 0
📺 Yahoo Finance
U.S. consumer spending has remained surprisingly resilient despite falling confidence levels. New research from Morgan Stanley indicates this steadiness is being driven by high-income households. The wealthiest consumers account for around 45% of total spending. As lower- and middle-income groups pull back in response to inflation and economic uncertainty, the rich have sustained their spending habits. The continued spending of high-income households has helped maintain GDP growth, despite the reduced spending of their counterparts.
Yahoo Finance anchors Julie Hyman and Josh Lipton discuss factors that could slow high-income consumers' spending power, citing factors like looming student loan repayments, high energy bills, and potential white collar layoffs.
Yahoo Finance anchors Julie Hyman and Josh Lipton discuss factors that could slow high-income consumers' spending power, citing factors like looming student loan repayments, high energy bills, and potential white collar layoffs.
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#consumerspending #yahoofinance #wealth
#consumerspending #yahoofinance #wealthy
· 31.10.2023 · 22:35:16 ··· Dienstag
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