The Top 5% of Americans Are Outspending Their Own Paychecks. That's the Risk to Watch.
America’s top 5% are still spending strongly as rising stock prices boost wealth, while consumer spending growth converges across income groups.
Rich people are spending more money than they earn because their stocks went up in value, making them feel wealthier. This spending boost could slow down if stock prices fall, so watching whether wealthy people keep spending tells us about the market's health.
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Source: Benzinga · Read the original report at the publisher. Headline and figures shown for context; data may be delayed.
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