I might have missed this last fall, but it’s wild to think that one half of all American consumer spending is done by the top 10% household income earners. Excellent illustration of the growing wage gap — fewer buyers with big budgets.
The top 10% of Americans account for nearly half of consumer spending
Commerce data released yesterday showed that spending at US retailers jumped 0.6% last month, more than double economists’ expectations of 0.2%.
morningbrew.com