Consumer Spending Momentum Fades Amid Holiday Shopping Season
- by Robert Williams , October 28, 2024
Holiday sales in November and December will rise 3.3% from the prior year, making it weaker than 2023 and longer-term averages, according to economists at financial-services firm Wells Fargo.
“Consumers' purchasing power has once again become dependent on income growth, as unique pandemic-era spending sources have faded,” the report said. …
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