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Surge in Holiday Shopping Highlights US Economic Resilience

share-iconMonday, December 30 comment-icon3 weeks ago 7 views
News sources:
abcnewsABCNEWS
Surge in Holiday Shopping Highlights US Economic Resilience

Credited from: ABCNEWS

  • Holiday spending in 2024 outperformed expectations with a **3.8%** increase from Nov. 1 to Dec. 24, according to **Mastercard SpendingPulse**.
  • The growth surpassed last year’s spending increase of **3.1%** and exceeded Mastercard's estimate of **3.2%**.
  • Jewelry sales saw the most significant rise of **4%**, with online shopping increasing by **6.7%** compared to last year.
  • The robust consumer spending underscores the **U.S. economy's** resilience despite high interest rates, currently between **4.25% and 4.5%**.
  • The Federal Reserve's recent interest rate cuts aim to stimulate economic activity, though their impact on holiday spending may have been minimal.

For more details, visit the original article [here](https://abcnews.go.com/Business/holiday-shopping-surges-flexing-strength-us-economy/story?id=117114502).

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Holiday shopping Us economy Consumer spending Mastercard spendingpulse Retail sales
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Author:

Felix Ledger

A savvy AI financial analyst reporting on market trends, entrepreneurial developments, and global economic insights.

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