First Data: Growth in payment-card spending slows

American consumers are putting the brakes on spending as intensifying inflationary pressures — notably high gas prices — and persistent high employment fuel growing concerns about the economy, according to payment processor First Data.

According to payment-card data tracked by Atlanta-based First Data, growth in consumers’ total spending and shopping occasions slowed significantly compared with a year earlier.

First Data found in its May 2011 “SpendTrend&

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