# Visa 2025 Holiday Spending Outlook

## This holiday season’s price tag tells the real story

As the holiday season nears, it caps off a year marked by extreme economic uncertainty, slowing job growth, elevated inflation, resilient income growth, and even a government shutdown. Through it all, consumer spending has remained a steady force, and we expect that resilience to continue. But with higher prices playing a larger role in driving nominal growth, the real story this season may be how far consumers can make each dollar stretch.

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