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February retail, restaurant sales rise: Mastercard

March 10, 2023


The report from the Purchase, New York-based card network company attributed the increase in restaurant, airline and lodging spending to continued consumer demand for travel and experiences leading into the spring break season. It also pointed to the Valentine’s Day holiday in February as a driver for gifting sectors, such as clothing, department stores and jewelry.

“Consumers have remained resilient, prioritizing discounts where possible to counteract inflationary pressures,” Mastercard Senior Adviser Steve Sadove said in the company’s statement.

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