K-Shaped Economy: Wealthier Households Drive Growth

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.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.