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Top Earners Drive Spending Amid Middle-Class Affordability Crisis

3/6/2026

37 6 Full Breakdown

Summary

Story summary

Moody's Analytics finds the top 20% of U.S. earners account for nearly 60% of consumer spending and drive demand for premium products despite rising prices.
Meanwhile, nearly 24% of middle-class households live paycheck to paycheck, with expenses approaching 95% of income.
They are increasingly shopping at discount retailers to manage costs.
The affordability crisis persists as prices for essentials fluctuate, causing financial stress.

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Story summary

Moody's Analytics finds the top 20% of U.S. earners account for nearly 60% of consumer spending and drive demand for premium products despite rising prices.
Meanwhile, nearly 24% of middle-class households live paycheck to paycheck, with expenses approaching 95% of income.
They are increasingly shopping at discount retailers to manage costs.
The affordability crisis persists as prices for essentials fluctuate, causing financial stress.