Visa Says 2005 Holiday Season Spending Up 17.5 pct

Published on:
12 September 2006 at 10:20 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00011185-visa-says-2005-holiday-season-spending-up/

Visa USA on Wednesday said shoppers spent $257 billion on its cards in the 2005 holiday season, 17.5 percent more than a year earlier.

The largest U.S. credit card association attributed the increase to growing consumer confidence, higher employment levels, and falling gas prices. The latter had surged to record levels after Hurricane Katrina struck the U.S. Gulf Coast in late August.

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