Preheat the oven to 350°F (176C) and line a bread pan with parchment paper, or, grease and flour the pan.
In a medium bowl whisk together the 1 ½ cups flour, 2 teaspoon baking powder, 1 teaspoon baking soda, ½ teaspoon salt, ½ teaspoon allspice, ½ teaspoon cloves, 1 teaspoon nutmeg, and 1 teaspoon cinnamon, until completely combined.
In a mixing bowl, whip the 5 tablespoon room temperature butter and 1 cup sugar together until light and fluffy. Add the ½ cup applesauce, 1 teaspoon vanilla, and 1 cup pumpkin puree and mix until completely combined. Add one third of the flour mixture and one third of the milk mixture. Keep alternating the flour and milk in thirds until lightly combined.
Fold in the chocolate chips and spoon into the bread pan
Bake for one hour or until you can insert a toothpick and it comes out clean.
Let rest for ½ hour or until cool before slicing.
Wrap in aluminum foil or plastic wrap and store in a cool, dry location.