Visa U.S. Spending Momentum Index Closed 2021 on a Strong Note
13 Janeiro 2022 - 12:31PM
Business Wire
Visa (NYSE: V) today announced that the U.S. Spending Momentum
Index (SMI) was 108.4 in December (seasonally adjusted), its
strongest reading for the month since the start of the index. For
the last three months of the year, the SMI was 110.3, also a high
for the fourth quarter of the year.
The Visa SMI is an economic indicator of the health of consumer
spending. When the Visa SMI rises above 100, the consumer spending
momentum is strengthening and when it falls below 100, the spending
momentum is weakening as fewer consumers are spending more relative
to the previous year.
By category, the SMI for discretionary purchases fell 4.9 points
from the previous month to 103. The SMI for non-discretionary
purchases rose 0.1 points to 99.9. On a regional basis, the SMI
fell the most in the Midwest and South, with both declining 4
points for the month. The Northeast reading fell 2.5 points and the
West slid 1.8 points. The West was the strongest performing region
in December with an SMI reading of 110.1.
“The SMI’s strong readings from October through December
suggests that consumer spending ended 2021 on a strong note,” said
Wayne Best, Visa’s Chief Economist. “However this month’s SMI
reading additionally shows that there were adverse impacts to
consumer spending in December, likely related to both the virus
spread and severe weather across much of the country.”
About the Visa SMI
The Visa SMI is an economic indicator of the health of consumer
spending. The SMI provides insight into what drives upturns and
downturns in spending by measuring the breadth of the momentum
supporting these trends. The Visa SMI is based on a sample of
aggregated, depersonalized VisaNet data. Visa adjusts this data
through proprietary methods to exclude factors that do not reflect
spending momentum. The resulting sample data is then aggregated
using a diffusion index framework where index values are scored
from 0 to 200. When the Visa SMI rises above 100, the consumer
spending momentum is strengthening and when it falls below 100, the
spending momentum is weakening as fewer consumers are spending more
relative to the previous year. The index is adjusted for day of
week, month, holidays, and broad annual trends, and these seasonal
adjustments are subject to revision each year.
The Visa SMI does not take into account the volume of payments;
nor does it rely on all Visa-branded credentials, and therefore
does not reflect Visa operational or financial performance. It is
intended for informational purposes only and is offered on an “as
is” basis without any warranties of any kind, express or implied.
Each SMI report is as of the publication date.
Eligible Visa clients in the U.S. may access more detailed and
customized insights at the national, regional and local spending
level, including spending on the main categories of goods and
services.
For more information about the Visa U.S. Spending Momentum
Index, please visit
www.visa.com/partner-with-us/visa-consulting-analytics/spending-momentum-index.html
About Visa
Visa (NYSE: V) is a world leader in digital payments,
facilitating more than 215 billion payments transactions between
consumers, merchants, financial institutions and government
entities across more than 200 countries and territories each year.
Our mission is to connect the world through the most innovative,
convenient, reliable and secure payments network, enabling
individuals, businesses and economies to thrive. We believe that
economies that include everyone everywhere, uplift everyone
everywhere and see access as foundational to the future of money
movement. Learn more at Visa.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20220112006069/en/
Media Contact Shauna Ball press@visa.com
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