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Americans are expected to spend an average of $736 on holiday gifts this season, a 10% increase from last year, despite a slowing job market and persistent inflation. Baby boomers are projected to increase their spending by 21%, highlighting consumer resilience amid declining confidence in the economy. Factors such as steady wage gains and the disconnect between sentiment and spending are contributing to this robust spending outlook. However, low- and middle-income households may face challenges due to rising essential costs.
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