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Visa States Latest SMI Supports View That Consumer Spending Set To Bounce Back In Q4

By John F. Heerdink, Jr.

Reportedly, the U.S. Spending Momentum Index has increased  to110.6 in October up 2.1 points from September, as per the Visa (V) SMI index, an economic indicator of the health of consumer spending. The Visa SMI above 100, indicates strong consumer spending momentum and when it falls below 100, it depicts a weak spending momentum as fewer consumers are spending more relative to the previous year.

Concerning categories, the SMI for discretionary purchases increased 1.5 points from the previous month to 106.5 and the SMI for non-discretionary purchases rose 1.3 points to 100.9.

“This month’s SMI reading supports our view that consumer spending is set to bounce back in the fourth quarter. With new U.S. COVID case counts declining and consumer confidence rebounding, we expect a solid pace of consumer spending and economic growth through the end of the year,” stated Wayne Best, Visa’s Chief Economist.

Visa Inc. (NYSE: V) is the world’s leader in digital payments. Its mission is to connect the world through the most innovative, reliable, and secure payment network – enabling individuals, businesses, and economies to thrive.  Their advanced global processing network, VisaNet, provides secure and reliable payments around the world and is capable of handling more than 65,000 transaction messages a second. The company’s relentless focus on innovation is a catalyst for the rapid growth of connected commerce on any device, and a driving force behind the dream of a cashless future for everyone, everywhere. As the world moves from analog to digital, Visa is applying its brand, products, people, network, and scale to reshape the future of commerce. To learn more about Visa (V) and to track its ongoing progress please visit the Vista Partners Visa (V) Coverage Page.)

Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives.

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(Read Original Story: Visa Spending Momentum Index Accelerated in October as Consumer Confidence Rebounded in Business Wire)


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