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Richer Americans are curtailing their spending ahead of Black Friday, a worrisome sign for an economy that has so far depended on the US consumer to stave off a recession.
The upper middle class powered a spending boom that kept the US out of recession, but there are increasing signs of a slowdown.
Look at what richer Americans do on Black Friday
A hit to the brands, retailers and malls that cater to those in a higher tax bracket foreshadows potential weakness ahead for the U.S. economy.
A hit to the brands, retailers and malls that cater to those in a higher tax bracket foreshadows potential weakness ahead for the U.S. economy.