Businesses Are Turning Toward Wealthier Shoppers. Lower-Income Consumers Are Pulling Back On Spending

American shoppers

U.S. economy may be holding steady overall, but the financial divide is getting harder to ignore. Higher-income households are spending more and seeing stronger wage growth, while lower-income households are increasingly feeling left out, according to recent data from the Bank of America Institute.

Widening Gap In Spending And Wages