News@lemmy.worldEnglish · 3 days ago

Retail spending is starting to look more and more like the labor market (only the wealthy are spending)

finance.yahoo.com

359

Retail spending is starting to look more and more like the labor market (only the wealthy are spending)

finance.yahoo.com

MasterBlaster@lemmy.world to

News@lemmy.worldEnglish · 3 days ago

Retail spending is starting to look more and more like the labor market

finance.yahoo.com

Spending data shows a resilient consumer powering the economy, but that strength is skewed.

The most affluent consumers account for a bigger share of total US spending, reinforcing the lopsided dynamic of unbothered consumption for the wealthy and more cautious shopping for everyone else.

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Its not just luxury cars. My new corolla has a sub for auto start and navigation.

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