America’s wealthiest households driving nearly half of consumer spending

The richest households in America are accounted for the growing share Consumer costs As market-based profits, the value of fuel in their net value, which finds a new analysis by Moody’s Analytics.

The report that MOODY’S ANALYTICS Mark Zandi found that the top 10% of US households in terms of earnings, which are defined as about $ 250,000 or higher, records 49.7% of consumer costs, register. analysis since 1989.

This figure indicates significant growth in the last three decades when the highest 10% of income accounts account for about 36% of consumer costs, Moody’s Analytics has been found.

Zandy’s analysis assumes that the growth of gross domestic product (GDP) in the United States largely depends on cost habits The highest indicator AmericansHe assessed that the first 10% of honors contributed to at least one third of GDP.

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Moody’s Analytics found that the highest 10% of honors account for about half of US consumer costs. (Mark Kauzlarich / Bloomberg Getty Images / Getty Images)

These discoveries come so little rich households that continue to fight with the consequences Persistent inflationAs well as high interest rates that hit the housing market.

From 2023 to September 2024, when the latest data used in the report, the highest 10% of the recipients increased their expenses by 12%.

“Rich households are financially safer and thus they can hold their income more,” Zandi wrote. “That is, they save less than otherwise. This is in line with our revalues ​​of consumer expenditures by the income group, which shows the upper quintile of income distribution, which ensures the last increase in expenses.

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The report showed that the share of the average and low income of consumer expenses decreased from 2023 to 2024. (Allen J. Schaben / Los Angeles Times Via Getty Images) / Getty Images)

Zandi explained that Affect of Wealth Subject to significant fluctuations based on increasing or falling in asset prices, the assets value or depreciate in the value, as well as the instability of price changes.

“The well-established economically well-based rule is that a stable and widely based appreciation for asset prices, as we enjoyed, in line with the wealth of two centuries,” he wrote. “In other words, an increase in every $ 1 dollar of net value, consumer’s expenses, eventually increased by two cents.”

“This was first reddened, but arithmetic was done. Last year, the effect of wealth increased the whole percentage of consumer expenditures and increased by GDP more than 0.7%. “About a fourth growing in GDP last year was due to the great wealth of households.”

The increase in the stock exchange and increased higher prices, contributed to the influence of the wealth found in Moody’s Analytics report. (Photographer, Michael Nagle / Bloomberg Via Getty Images / Getty Images)

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Zandy warned that the effect of wealth could be in reversing, writing at risk that “considering stretched assessments and raised Uncertainty of economic policyThe risk of significant correction in asset markets is uncomfortable and grows with clear consequences for the economy. “