The top 20% of Americans are keeping the economy alive. That’s not a good sign
Consumer spending is a crucial part of the US economy, accounting for about two-thirds of its growth. And judging from retail sales data released earlier this week, that economic engine appears to be running smoothly. Sales were up a strong 0.6% in August, a month when spending was expected to be somewhat lackluster.
Consumer spending is a crucial part of the US economy, accounting for about two-thirds of its growth. And judging from retail sales data released earlier this week, that economic engine appears to be running smoothly. Sales were up a strong 0.6% in August, a month when spending was expected to be somewhat lackluster.
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