Retail News

Wealthy Americans Hold Back on Spending

The Associated Press/The Boston Globe 08/02/2010

The wealthiest five percent of Americans, those earning $207,000 a year or more, account for 14 percent of spending in the U.S. This group’s reluctance to spend more on consumer goods is given as one of the reasons the economy grew 2.4 percent and not a higher figure for the second quarter.

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