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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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From: Joe Stocks	12/26/2006 10:58:22 AM
	of 110194

>>Visa USA, the credit card company, said yesterday that it would lower its closely watched forecast for holiday spending. Based on purchases by credit and debit card holders, Visa said sales rose 6.5 percent in November and December, compared with the same period last year, down from its initial forecast of a 7.5 percent gain.<< This is what Visa said last year... >>Overall global holiday spending processed by Visa--during the company's standardized 45-day peak processing period of 17 November to 31 December--increased 13 percent to US$291 billion, compared to US$257 billion over the same period in 2004. In all, Visa settled a total of 4.4 billion transactions during the holiday season, up 16 percent from the 3.8 billion transactions settled in 2004.<< corporate.visa.com Visa's sales figures should not be confused with total increase of Christmas sales for all payment forms. The increase in the use of credit cards increases each year. For Visa to only see a 6.5% increase in total purchases using their cards, this could easily translate into flat to down total Christmas sales.

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