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47% of U.S. consumers expect holiday spending flat

8/28/2026

Summary

McKinsey Predicts Holiday Spending

McKinsey reports 47% of U.S. consumers expect holiday spending to match last year.
McKinsey reports 23% plan to increase holiday spending while 21% intend to cut back.
46% of shoppers say they will use AI tools to compare prices and find deals during holidays.
ING notes July 2026 personal spending was flat month-on-month, while disposable income rose 0.4%.

Summary

Trump Expands Beef

President Donald Trump signed a proclamation expanding the lean-beef-trimmings import quota by 300,000 metric tons.
The additional quota will be released in three 100,000-metric-ton tranches from Sept. 1 through Oct. 31.
Imports must be priced at least 25% below market price, risking cancellation of the remaining quota.
USDA projects beef production will fall about 4% from 2025 levels this year.
Republican lawmakers from cattle-producing states warned foreign beef could undercut ranchers.

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McKinsey Predicts Holiday Spending

McKinsey reports 47% of U.S. consumers expect holiday spending to match last year.
McKinsey reports 23% plan to increase holiday spending while 21% intend to cut back.
46% of shoppers say they will use AI tools to compare prices and find deals during holidays.
ING notes July 2026 personal spending was flat month-on-month, while disposable income rose 0.4%.

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