US Consumer Spending Slows, K-Shaped Economy Concerns

Consumer spending in the US saw a slight rise in September, but the overall economy may be slowing down due to a weak job market and rising living costs. Middle and lower-income households are feeling the pinch, while high-income households drove earlier growth. Economists predict weak income growth in the future, potentially impacting low-income individuals. Despite the September slowdown, overall consumer spending likely grew at a brisk pace in the third quarter.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.