Cautious Optimism
U.S. consumer spending showed signs of resilience as the holiday shopping season kicked off. Black Friday results were solid, with online sales rising to $11.8 billion, a 9.1% increase from last year, according to Adobe Analytics. In-store activity also improved, though at a slower pace—up 1.7% year over year per Mastercard SpendingPulse. While inflation has moderated, consumers continue to show selectivity in their purchasing patterns, favoring promotions and digital channels as they balance spending with ongoing financial pressures. Visa’s U.S.…

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