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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.
The National Retail Federation predicts that while the total spending for the upcoming holiday shopping season will reach a new high, 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, and insufficient consumer purchasing power may lead to a pessimistic outlook on the economy.
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