Economy News Wealthier Americans Are Driving Retail Spending And Powering Us Economy

People say the economy stinks yet they keep spending, what explains it?

Americans keep telling pollsters the economy is lousy, yet airport terminals, concert venues, and shopping apps suggest something very different. Household pessimism is running hot at the same time ... Read More

The US economy expanded at the fastest pace in two years as wealthier Americans kept spending

An initial reading of third-quarter gross domestic product showed the US economy expanded at an inflation-adjusted annualized rate of 4.3%, a far faster pace than the 3.8% recorded in the second ... Read More

The U.S. economy grew robustly as Americans continued to spend

The data, which was delayed from October by the government shutdown, comes as the economy takes center stage for voters and the Trump administration. Read More

Why so many Americans dislike this fast-growing economy

Data this week showed that the American economy is growing at its fastest pace in two years — and yet polling shows the mood on Main Street is grim. Read More

Americans spending more for the holidays despite dour economic views

Americans may not be feeling jolly about their economic prospects, but that didn't stop shoppers from opening their wallets on Black Friday and driving spending to new records. Despite record holiday ... Read More

Rich people are spending. Everyone else is cutting corners.

If America’s economy has a prosperous holiday season, the data suggests, we’ll have rich folks to thank. The top 10% of earners now account for roughly half of all consumer spending, according to a ... Read More