Visa Economist Adds to Holiday Optimism
San Francisco, Visa USA, the world’s leading payment brand and largest payment system, today announced retail predictions for the 2005 holiday season. Despite recent natural disasters and increasing energy costs, Visa USA’s economist, Wayne Best, predicts that the 2005 holiday season in the United States will be moderate to strong, particularly as wage and income growth is expected to continue through the end of the year.
“Currently, our economy is on good footing and should remain steady in the coming months. As consumers continue to feel good about their financial situations, bolstered by sustained wage and income growth, it should translate into a good holiday season for retailers,” said Wayne Best, senior VP of business and economic analysis for Visa USA. “Much will depend on whether Americans will see fuel and oil prices start to level off—or even decrease—giving consumers access to more disposable income, in time for the holidays.”