US consumers are set to cut their spending in early 2024 for the first time since the pandemic as they battle looming financial pressures, a new survey reveals. Americans have so far defied analysts' expectations of a recession by maintaining strong spending to bolster the economy. Consumers splurged this summer on record-breaking blockbuster movies and concert tours, including 's Eras Tour and 's Barbie.But experts say that may be coming to an end.
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