Economic TimesLean R·
US luxury spending loses its shine
Paris: US credit card spending on luxury brands fell for a third consecutive month in September, retail lender Citi said on Tuesday, signalling further weakness in the industry's biggest market as the US heads into the November 3 midterm elections.Buffeted by prolonged weakness in China and the economic fallout of the Iran war, luxury brands have pinned hopes on resilient demand from wealthy US shoppers, including a growing cohort of AI millionaires, to offset softer sales elsewhere and help li…
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