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- Widening K-shaped economy pattern across income groups
The U.S. is showing signs of a "K-shaped" economy with spending among lower-income consumers showing little growth in comparison to their higher-income counterparts, a new analysis from the Bank of America Institute shows.Internal data detailed in the report showed that in November the three-month average of total card spending reflected a K-shaped pattern as the holiday season began in earnest."In terms of overall credit and debit card spending, we've really seen a divergence open up since around the sort of spring, early summer in our data," David Tinsley, senior economist at the Bank of America Institute told FOX Business in an interview. "Currently, higher-income households – that's the top third of households by income – their growth in spending is around 2.6% year-over-year, but for lower-income households, it's only at 0.6%," Tinsley noted. "That's quite a big gap." US ECONOMY EXPECTED TO GROW FASTER IN 2026 DESPITE STAGNANT JOB MARKET: GOLDMAN SACHS"I think… ...[TheTopNews] Read More.38 mins ago - Behind the mesh curtain: Why airline class wars will intensify in 2026
Airlines are continuing their focus on premium travelers, adding lounges, new first-class cabins and other perks for customers willing to spend more to fly. ...[TheTopNews] Read More.38 mins ago - Wall Street Sees Another Banner Year for Markets. Could Anything Stop It?
Analysts have forecast more stellar gains for the S&P 500. But concerns about inflation, the dollar and sky-high valuations could make for a choppy run. ...[TheTopNews] Read More.45 mins ago - Holiday Fuel Relief Brings Diesel and Gas Prices Down Across the U.S. for Fleets
Trucking fleets received some welcome news at the end of the year as fuel prices continued to ease during the holiday season. According to the latest data released by the U.S. Energy Information Administration (EIA) on December 30, both diesel and gasoline prices declined nationwide, offering short-term cost relief for carriers managing tight margins. National Fuel Price Overview The national average on-highway diesel price fell 4 cents last week, bringing the average cost down to $3.50 per gallon. Gasoline prices also moved lower, dropping 3 cents to a national average of $2.81 per gallon. These declines reflect a continued downward trend that has developed over the holiday period, helping fleets reduce operating expenses as the year closes. While EIA’s data shows declining prices, AAA Motor Club reported slightly higher national averages. AAA listed diesel at $3.564 per gallon, which is 6 cents higher than the EIA figure and… ...[TheTopNews] Read More.2 hours ago - Heating tips to keep your home warm when budgets are squeezed
As temperatures fall across much of the UK, how should you heat your home and keep yourself safe? ...[TheTopNews] Read More.3 hours ago - Welcome to the Office. Now Take Off Your Shoes.Some start-ups, blurring the lines between home and office, are embracing a “no shoes” policy. ...[TheTopNews] Read More.3 hours ago
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