Cyber Monday US spending growth seen lagging Europe amid tariffs

SEATTLE – Cyber Monday spending will grow much more slowly in the United States than Europe, a new phenomenon that reflects the impact of President Donald Trump’s trade war and aggressive interest rate cuts by the European Central Bank, according to an estimate released on Dec 1 by Salesforce. Global online spending, mostly from Europe, will increase 8 per cent to reach US$53.7 billion (S$69.6 billion), while US spending will rise by 4 per cent to US$13.4 billion, according to the estimate, which is based on transactions of 1.5 billion consumers. Salesforce said earlier that global Black Friday spending grew…