---
title: "Rating agency Moodys: The top 10% of income earners in the U.S. support nearly half of consumption, exacerbating imbalances behind economic growth"
description: "Moody's Chief Economist Mark Zandi pointed out that the top 10% of income earners in the United States accounted for 49.2% of consumer spending in the second quarter, reaching a new high since 1989, u"
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/257584446.md"
published_at: "2025-09-16T15:14:46.000Z"
---

# Rating agency Moodys: The top 10% of income earners in the U.S. support nearly half of consumption, exacerbating imbalances behind economic growth

> Moody's Chief Economist Mark Zandi pointed out that the top 10% of income earners in the United States accounted for 49.2% of consumer spending in the second quarter, reaching a new high since 1989, up from 48.5% in the first quarter. He warned that economic growth is closely related to the consumption of the wealthy, and if they become cautious due to factors such as a downturn in the stock market, it could lead to an economic recession

Moody's Chief Economist Mark Zandi stated that the top 10% of consumers accounted for 49.2% of total consumer spending in the second quarter, up from 48.5% in the first quarter, marking the highest level since 1989. "The economic outlook has become tied to the wealth and spending of the affluent," Zandi said, "If they become more cautious about spending for any reason, the economy will fall into recession." One potential trigger is a downturn in the stock market. With the current stock market near record levels and housing prices remaining high, many wealthy Americans are seeing their net worth rise, encouraging them to continue spending

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> **Disclaimer**: This article is for reference only and does not constitute any investment advice.