Nearly all Americans are cutting back on their spending in some way, according to a new CNBC and Morning Consult survey.
The survey found 92% of Americans are pulling back, further evidence of what retailers like Walmart, Target, Home Depot and Best Buy called out as cautious consumer spending shifts during the first quarter.
Shoppers continue to report inflation squeezing their finances, with concerns particularly heightened among middle-income Americans. Of the survey respondents, 92% of middle-income Americans — or those who make between $50,000 and $100,000 a year — reported being “somewhat” or “very” worried about higher prices.
That’s a higher proportion than those in low- and high-income groups, with 88% of each of those segments reporting feeling concerned about higher prices. One somewhat bright spot: That share of high-income households, represented by those earning $100,000 or more a year, represents an improvement from a year ago when 92% expressed concern around…
2023-06-14 15:56:55
Link from www.cnbc.com
