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Despite numbers showing a healthy economy overall, lower-income spenders are showing the strain

Summary
Cracks are showing in one of the main pillars keeping the economy out of a recession: resilient spending by U.S. households. Consumer goods giants from PepsiCo to Kraft Heinz have described recently how the combination of high inflation and higher interest rates is hurting their lower-income customers.

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Despite numbers showing a healthy economy overall, lower-income spenders are showing the strain

NEW YORK (AP) — Cracks are showing in one of the main pillars keeping the economy out of a recession: resilient spending by U.S. households. Consumer goods giants from PepsiCo to Kraft Heinz have described recently how the combination of high inflation and higher interest rates is hurting their lower-income customers. It’s the culmination of everything getting more expensive amid high inflation, even if it’s not as bad as before, and the drag …

·Washington, United States
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abc News broke the news in United States on Wednesday, May 8, 2024.
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