SAN FRANCISCO — Visa USA remains optimistic about small business spending even as some economic experts have taken on a more cautious tone about the sector. The card brand has made moving business spending onto cards one of its key strategic goals.
Speaking at a Microsoft Small Business Summit, Wayne Best, senior vice president with Visa, struck a note of cautious optimism in his keynote presentation at the Microsoft Small Business Summit, based on his analysis of macroeconomic trends, Visa spending data and small business studies.
He recounted that macroeconomic data compiled and analyzed by Visa USA provided a mixed outlook. Although gross domestic product was robust in 2006, Best expected to see lower consumer spending growth, or personal consumption expenditures, in the coming year. PCE growth is forecast to rise at 4.9% in 2007, down from 6% in 2006.
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