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Visa U.S. Spending Momentum Index Show Drop In Consumer Spending For January -$V $DIA

By John F. Heerdink, Jr.

As per reports, Visa Inc. (V) announced that the U.S. Spending Momentum Index (SMI) came in at 102.4 in January, dropping from 109.4 in December. The SMI’s decline from December was mainly due to the rise in new Omicron variant cases. The Visa SMI is an economic indicator of consumer health spending. A Visa SMI above 100 indicates strong consumer spending momentum and below 100 depicts that the spending momentum has weakened.

“The SMI readings continue to reflect that there is a clear indication of spending growth moderation in January. That said, we expect more robust spending in the months ahead as virus concerns slowly subside,” 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 U.S. Spending Momentum Index Shows Omicron’s Impact on Consumer Spending Was Modest in January in Business Wire)


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