I think religion is an inferior good. That's not a judgement of quality or morality, it just means that consumption of religion increases as income decreases. There are religious billionaires, like the owner of In-n-Out Burger. But it's like Marx said, religion is the opium of the masses. I think it's not just any religion, but that the quality of the religious experience matters. It's a kind of religion that makes you value stuff more. This has the effect of moving the person's utility function to the left, meaning they get more utility from the same basket of goods than they would without religion. This reduces demand for all goods. Religion is a substitute for many goods. I should say, religion can substitute for goods. Some religion is about money grubbing. I think evangelists like Joel Osteen and Creflo Dollar encourage their congregants to donate money in the hope it will make them more prosperous. Those preachers certainly buy baskets of goods like big living estates and private jets. But I think religion which is not materialistic can help people to be more satisfied and works against the economy.