Mastercard (MA) exec Tim Murphy warns that consumer spending on luxury items fell back -...

|By:, SA News Editor

Mastercard (MA) exec Tim Murphy warns that consumer spending on luxury items fell back - providing a "cause for concern" for the company as it actively seeks more affluent customers. After consumers showed a healthy 11.7% increase in spending for high-end items in February, the pace slowed in March and April to 1.8% and 5.5%, respectively.