San Francisco — March 23, 2007 — Annual commercial spending in the U.S. grew to $17.28 trillion in 2006, according to new data released today from Visa's Commercial Consumption Expenditure (CCE) index. This figure represents an increase of 6.7 percent over 2005.
According to the index, spending among all key business segments rose during the year, with the strongest growth in spending occurring at midsize and large companies.
"The CCE index is a unique resource that enables Visa and its member financial institutions to more closely monitor current business-to-business spending trends and tailor payment solutions that meet the individual needs of each business segment," said Darren Parslow, senior vice president at Visa Commercial Solutions. "With robust commercial spending anticipated through 2010, there is an opportunity to help businesses of all sizes manage their commercial payments more efficiently."
A breakdown of spending by each business segment in 2006, including percentage increases over 2005 spending, is as follows:
- Small business: $4.88 trillion, up 4.3 percent
- Midsize companies: $3.50 trillion, up 8.0 percent
- Large companies: $7.64 trillion, up 7.8 percent
- Government agencies: $1.26 trillion, up 5.9 percent
$20 Trillion or Bust
More Data to Come