Preheat oven to 350 degrees F (175 degrees C). Grease two 9×5-inch loaf pans.
Mix white sugar and applesauce together in a large bowl; stir pumpkin puree and eggs into sugar mixture until smooth. Mix baking powder, baking soda, cinnamon, salt, ginger, cloves, and mace into pumpkin mixture; fold in walnuts and chocolate chips. Stir flour into pumpkin mixture until fully incorporated. Pour batter into the prepared loaf pans.
Bake in the preheated oven until a toothpick inserted in the center of each loaf comes out clean, 1 hour. Cool in the pans for 10 minutes before removing to cool completely on a wire rack. Sprinkle each loaf with confectioners’ sugar.
We prefer pecans and semisweet chocolate chips in our pumpkin bread. Most often I bake it in a 9×13-inch pan and once cooled, top it off with cream cheese frosting.
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