The rising global economic unpredictability emerging due to supply chain logjams, higher inflation, and an uptick in interest rates does not seem to have dampened the enthusiasm of U.S. consumers when it comes to spending. So far, data from all three credit card giants including Visa, Mastercard, and American Express has echoed the same sentiment – that U.S. consumers are spending more. Data from American Express indicated that in Q1, consumers in the U.S. spent around 20% on travel and entertainment, adjusting for exchange rate fluctuations, when compared to the same time period in 2019.
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