Key Points
. Americas middle class is feeling the heat from sky-high interest rates and persistent inflation.. . Middle-class income growth has lagged behind that of the upper class since 1970, according to a Pew Research Center report published May 31..
Kohls that same month reported weak first-quarter results, underlining how middle-income consumers are pulling back spending on non-essential clothing and discretionary merchandise at department stores.. . Our customers continue to be pressured by a number of economic factors, including high interest rates and inflation, Kohls CEO Thomas Kingsbury said on a May 30 call with analysts..
Our middle-income customer continues to be impacted.. . Economic data and corporate earnings reports have shown that lower-income consumers are struggling to pay their bills on time, reducing their spending and searching for deals..
Narendra Modi has declared victory in Indias election, but hell need the support of smaller parties to govern, a shock result that could make it harder for him to pass major economic reforms, reports my colleague Diksha Madhok.. . India boomed during Modis first two terms as prime minister, leapfrogging the United Kingdom to become the worlds fifth biggest economy and growing by 8.2% in the last fiscal year...
The stakes are high: Opinion polls suggest the Conservatives are set to be booted from office, with Labour on course to win a UK election for the first time since Tony Blair took the party to victory in 2005.. . Sunak pointed to rising wages and a strengthening economy as proof that his plan to restore economic stability is working..
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