Luxury Sales Cool
Recent credit-card data indicates a notable slowdown in U.S. luxury spending, especially among younger consumers who are feeling the impact of inflation.
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Consumer Spending Eases
In October, Americans curtailed their spending, and inflation subsided as the economy shifted gears from a vigorous third quarter, according to analysts.
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Official figures indicate that China's retail sales contracted by 0.2% in 2022, a stark contrast to the 8% growth recorded in 2019.
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