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U.S. consumer spending rose in August, but only among high earners, highlighting deepening economic inequality and vulnerability.
U.S. consumer spending rose 0.6% in August, surpassing expectations, but the gain was concentrated among high-income households, with the top 10% accounting for 49% of spending in the second quarter—the highest share since 1989.
Low-income Americans are reducing spending, signaling a fragmented recovery and raising concerns about economic inequality and long-term stability.
Economists warn the economy’s health is increasingly dependent on wealthy consumers, making it vulnerable to downturns if their spending slows, potentially triggered by stock market declines.
The uneven recovery underscores growing disparities in consumer resilience and risks to sustained growth.
El gasto del consumidor estadounidense aumentó en agosto, pero solo entre las personas con altos ingresos, lo que pone de relieve la profundización de la desigualdad económica y la vulnerabilidad.