XLC - Consumer spending momentum high indicates Visa Mastercard says U.S. retail sales growing

Visa SMI registered 111.7 for June, down 11.6 points from the May reading of 123.3; reading above 100 suggests consumer spending was expanding Y/Y.Visa U.S. Spending Momentum Index ((SMI)) is an economic indicator designed to be a timely gauge of the health of consumer spending.At its current level, the Visa SMI implies 53% of consumers are now spending more than they did one year ago, while 47% are spending the same or less.On comparison to June 2019 levels, 51% of consumers are spending more, down slightly from 52% of consumers who were spending more in May.Region-wise, SMI for the Midwest region continued to lag behind other parts of the country, with an SMI reading of 109.5 in June while West ranked among the regions with the strongest consumer momentum at 115.9 for second consecutive month.On the other hand, Mastercard SpendingPulse reported growth of 11% Y/Y in June U.S. retail sales excluding automotive and gasoline while

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Consumer spending momentum high indicates Visa, Mastercard says U.S. retail sales growing