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Consumers Keep Spending Despite Headwinds
Description
Consumer spending remains surprisingly resilient despite economic headwinds, with Mastercard CEO Michael Miebach highlighting a year-long global trend where people across all income levels continue to spend — defying predictions of a fragmented “K-shaped” recovery. Mastercard’s Q1 revenue surged 16% to $8.4 billion, with its most profitable segment up 22%, while rivals Visa and American Express report similar gains, signaling a broad-based spending rebound that’s turning heads in financial markets.
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