K-shaped economy is still ‘firmly intact,’ Moody’s economist says
Summary
Economist Mark Zandi from Moody’s says the economy is divided into two parts, forming a K-shape. High-income people are spending more, while others are not, showing that the economic gap continues.Key Facts
- The term "K-shaped economy" means different groups in the economy are doing very differently.
- High earners are increasing their spending.
- Lower earners are not seeing the same economic improvement.
- The economic divide between rich and poor remains strong.
- Mark Zandi is an economist at Moody’s, a financial research firm.
- This situation shows uneven recovery or growth in the economy.
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