Spending continues to decline among the affluent
Posted by Michael Bradley, CFA on December 10, 2009 ·
Bad news for Tiffany's
We continue to see consumer spending decline among all income groups, but what we’re seeing in a more pronounced way has been saving among the upper and upper middle income population. This is generally a bad sign for hospitality REITs, real estate and an encouraging sign for financial services, as is the overall trend of increased national savings.
