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AmEx Sees Spending Soar as Travel Rises Despite Airline Woes

The jump in spending was “driven by the robust rebound in global travel and entertainment spending, which surpassed pre-pandemic levels for the first time in April,” Chief Executive Officer Steve Squeri said in a statement Friday. “Goods and services spending, which is the largest category of spending on our network, continued its strong growth in the quarter, and spending by millennial and Gen Z card members increased 48%.”

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