U.S. economy's K-shaped gap narrows
After publishing: 1 description edited1 change
- Axiosseen 14 Aug, 02:19description edited
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For years, America's economy has been defined by a "K-shaped" gap: The rich kept spending at a rapid pace, while everyone else struggled to keep up. That divide is suddenly narrowing. Why it matters: Economists warned that consumer spending growth was increasingly reliant on wealthy Americans, leaving the economy vulnerable to a stock market downturn or any other wealth shock. Importantly, the "K" appears to be closing from the bottom up, meaning that lower- and middle-income Americans are...For years, America's economy has been defined by a " K-shaped " gap: The rich kept spending at a rapid pace, while everyone else struggled to keep up. That divide is suddenly narrowing. Why it matters: Economists warned that consumer spending growth was increasingly reliant on wealthy Americans, leaving the economy vulnerable to a stock market downturn or any other wealth shock. Importantly, the "K" appears to be closing from the bottom up, meaning that lower- and middle-income Americans are...
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How it spread - 3 original reports
Tue, 11 August 2026
1 report- Axios16:01first to reportedited after publishing
For years, America's economy has been defined by a " K-shaped " gap: The rich kept spending at a rapid pace, while everyone else struggled to keep up. That divide is suddenly narrowing. Why it matters: Economists warned that consumer spending growth was increasingly reliant on wealthy Americans, leaving the economy vulnerable to a stock market downturn or any other wealth shock. Importantly, the "K" appears to be closing from the bottom up, meaning that lower- and middle-income Americans are...
Thu, 13 August 2026
1 report- wkbw.com11:12
New data suggests the spending gap between wealthy and lower-income Americans is narrowing, but economists warn credit use may be masking the real picture.
Mon, 17 August 2026
1 report- yahoo.com13:02
America’s consumer may be less divided than investors think. But one group is still behaving very differently from everyone else: the richest 5% of households. Bank of America’s latest data show spending growth has increasingly converged across income groups. Lower-income households saw card spending rise 5.4% year over year in July, while middle-income households rose 4.9%. The top 5%, however, remain the outlier. Their spending continues to grow faster than their wages. That gap is becoming on