Economic confidence among lower-income Americans has taken a recent leap, the latest evidence that benefits of the economic expansion are reaching a broader swath of workers.
Sentiment among lower-income consumers still trails that of their higher-earning counterparts. But the gap has narrowed in recent months.
In the University of Michigan’s consumer-sentiment index, confidence among households in the bottom third income tier has risen 11.4 points since February, an IHS Markit analysis of sentiment figures shows. Meanwhile, sentiment among Americans in the highest third of incomes has fallen more than eight points.
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