By 2020, America will see more spending growth from Hispanics than young adults
Hispanics will experience faster spending growth than young adults by 2020, according to new projections from investment bank Morgan Stanley.
“The aging of the population and the rise of Millennials will continue to impact the consumer landscape over the next 5 years,” analysts said in a note. “However, the share of the consumer wallet controlled by the Hispanic population will experience the fastest pace of growth, driven by the addition of 8.2 (million) people—or 52% of total U.S. population growth—and above-average per-capita income growth…
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