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Consumer Spending Slowdown
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Economic Growth and Consumer Spending
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Consumer spending, fueled by high housing costs, rising credit card debt, and shrinking savings, may slow down, impacting the economy. Inflation has led to increased loan balances and delinquent accounts, while excess savings from the pandemic are depleting.
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How might the potential slowdown in consumer spending affect industries reliant on consumer spending, such as retail and hospitality?
In what ways can the potential slowdown in consumer spending influence government policies and economic strategies?
What measures can individuals and businesses take to mitigate the impact of high housing costs and rising credit card debt on consumer spending?
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