Photo: Tinou Bao via Flickr
Despite unfavorable economic pressures on the consumer, hard data continues to show that consumers continue to spend.August was particularly riddled with negative headlines including the US credit downgrade and stock market selloff.
However, MasterCard said the consumer still isn’t slowing. At its Investment Community Meeting yesterday, the payment processor actually noted worldwide volume was up 16.7% in August from July.
“Overall, we came away feeling incrementally more positive around the current spending environment,” said Barclay’s analyst Darrin Peller.
Citi’s Donald Fandetti said, “[CEO Ajay] Banga seemed fairly constructive on U.S. as they are seeing the consumers with jobs still spending at a decent pace, particularly the affluent segment, despite the negative headlines.”
We sifted through MasterCard’s 98-slide presentation and pulled the four most important ones.
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