America's consumer engine is leaning harder than ever on the rich, with new Moody's data showing the top 20% of earners now account for more than half of all spending while outlays by middle- and lower-income households flatline.
What Happened: The skew is masking underlying weakness in demand that could spill into hiring, since small businesses, which are the biggest job creators, are seeing softer traffic from less-affluent customers, states a fresh Axios report.
