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Is american spending slowing down? The largest retail industry organization has issued a warning that the growth rate of year-end holiday consumer spending is slowing down.
Although the National Retail Federation expects total holiday season spending to reach a new high, persistent high inflation continues to erode consumer purchasing power. The growth rate of this year's most important holiday sales will be lower than last year, and household spending will be more cautious. Consumer spending is a key pillar of the US economy, insufficient consumption power may lead to a pessimistic outlook on the economy.
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