McDonald's and Wendy's report breakfast sales are down. Here's what that says about the economy.

The most important meal of the day is also shaping up to be the most skipped meal of the day, at least according to two of the country's largest fast-food chains.

McDonald's and Wendy's last week, during their respective earnings calls, said they're seeing sluggish breakfast sales. The companies attributed the trend to heightened economic uncertainty and pressures facing low-income consumers.

"There is a lot of anxiety and unease with that low-income consumer," McDonald's CEO Christopher Kempczinski said on the company's earnings call on Aug. 6.

Despite wage gains, real incomes are down for low-income consumers, who are facing a lot of financial stress, the CEO added, citing President Trump's tariffs as a potential contributor.

"So real incomes are down with the low-income consumer