Giving by wealthy donors in the United States is likely to remain strong but flat through the rest of the year, reports the Financial Times.

Charity buoyed by resilience of wealthy donors (registration required)

The economic slump is already causing financially stretched middle-income Americans to curtail their charitable donations, but philanthropic giving by the wealthy is likely to remain strong – if not quite as generous – throughout the rest of the year.

The timing of big gifts could be affected, too, as most large donations tend to be driven by events such as the selling of a piece of appreciated real estate, or liquidating a family business – occasions that could be delayed by volatility in the stock market.