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"economic background" is a correct and usable phrase in written English.
You can use this phrase when you want to refer to the financial resources and situation of a person or a group of people. For example, "He had a privileged economic background that allowed him to attend the best schools."
Exact(19)
This sets out the economic background to today's announcement.
Let me turn to the economic background and forecasts.
All three men could be from the same economic background.
Unlike one's race, one's economic background is not immediately apparent.
He added: "The weak economic background has been a key factor dampening housing demand this year.
The volunteers I met represented the broadest spectrum of race, ethnicity and economic background imaginable.
Similar(39)
Racists are being demonised; it doesn't matter what their socio-economic background is.
It's about socio-economic background, what's going on in the school, teaching approach.
She says she was happy to provide information about her socio-economic background.
But it also looks at other factors, including socio-economic background and race.
And then the question guaranteed to cause squirming – how the applicant would assess their own socio-economic background.
Related(20)
socioeconomic background
economic context
social background
economic origin
economical background
macroeconomic background
economic backdrop
economics background
economic origins
economic contexts
finance background
long term background
business background
economic record
economic theory
economic picture
economic chaos
economic growth
economic development
economic plan
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com