K-Shaped Economy: Wealthier Households Drive Growth
Update: 2025-12-04
Description
Bank of America predicts a 2.4% real GDP growth for 2026, suggesting the economy will avoid a recession. Despite a softer labor market, higher-income households spending on services could stabilize the job market. Macys CEO reports a 9% sales growth at their upscale brand, Bloomingdales, indicating a resilient consumer at higher income levels.
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