Consumer spending comes back 'with a vengeance' in May

Despite a recent jump in retail sales, a decline in spending by the wealthy could contribute to an economic slowdown. Researchers tracking spending patterns using credit card data found that people at the bottom of the income bracket are spending nearly as much as before the pandemic, while the wealthy are not matching them.

Publisher: Yahoo | Author: Myles Upland

TAGS
economy and stimulus
DATE PUBLISHED
2020-06-17 (Modified: 2021-09-22)

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https://finance.yahoo.com/news/consumer-spending-comes-back-with-a-vengeance-in-may-morning-brief-100600715.html

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