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Top 10% of Americans account for nearly half of consumer spending
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Top 10% of Americans account for nearly half of consumer spending

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Commerce data released yesterday showed that spending at US retailers jumped 0.6% last month, more than double economists’ expectations of 0.2%.

While most US consumers are still sticking closely to their budgets, top earners are spending to make up the difference. Americans in the top 10% income bracket made up nearly half (49.2%) of total consumer spending during Q2, per an analysis of rece... [1285 chars]

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Source: Morning Brew

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