Key facts
- Morning Consult's weekly tracking showed sentiment among $100,000+ households at its lowest in months.
- The share of six-figure earners saying their finances were improving fell to 30.2% in the week ending October 26.
- Year-over-year spending increases for the top third of earners have slowed since June, per a Bank of America Institute analysis.
- Half of high-income families earning over $155,600 identify as working class, the report said.
- Just 47% of middle-income workers surveyed by Pew Research said they saved money over the past year.
Consumer sentiment among Americans earning $100,000 or more has fallen to its lowest level in months, according to Morning Consult's weekly tracking cited in a Business Insider report. The share of six-figure earners who felt their finances were getting better stood at 30.2% in the week ending October 26, down from 45.2% late in the summer of 2025 and 32.5% at the new year.
The decline matters for spending, which the report said is overwhelmingly powered by higher earners. Year-over-year spending increases for the highest third of earners have slowed since June and are now similar to those of middle-income counterparts, according to an analysis from the Bank of America Institute. The top 5% of earners still have the fastest spending growth, the analysis found.
The report also cited Pew Research survey data showing middle-income workers lack rainy-day funds covering three months of expenses, with just 47% saying they saved money over the past year. It said half of high-income families earning over $155,600 identify as working class, and that high gas and oil prices have begun to strain higher earners as inflation remains high.