The Mastercard Economics Institute expects holiday spending to increase at a lower rate than last year as consumers navigate a slowdown in hiring in the labor market and uncertainty around the impact of tariffs.By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions .Complete the form to unlock this article and enjoy unlimited free access to all PY ...

And trees aren't the only thing that consumers are trimming this year. They're also cutting back on their holiday shopping anticipated. Anyway, a new survey from PJC forecast the steepest pullback in spending since the start of the virus pandemic.For more on this, let's bring in CNBC's Gabrielle Fon Rouge. Gabby, is it going to be as dire as the report says. >> I mean, it's July, right.Or I mean, we're actually in September, but this survey was taken in June and July. Consumer sentiment was in a bit of a di ...