CEO of payments and card network American Express, Stephen Squeri, claims the company is still not observing spending patterns indicative of an economic slowdown. Fourth quarter sales for AmEx’s consumer services and commercial businesses in the United States increased by 23% and 15% respectively. Though the positive-leaning insight on consumer spending may seem surprising to some, it should be noted that AmEx users traditionally fall into a higher, net-worth demographic.
American Express CEO: ‘We aren’t seeing recessionary signals’
