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Improving Economy and Retail Sales to Boost Mastercard’s Q3 Results

Andrew Brunton
Improving Economy and Retail Sales to Boost Mastercard’s Q3 Results

A healthy job market and a steady hike in wages have increased the spending power of consumers. According to the U.S. Bureau of Labor Statistics, the unemployment rate declined 20 basis points in September to 3.7%, the lowest level since December 1969. An improving GDP growth rate is creating a favorable business environment for Mastercard. In the second quarter, the US GDP grew 4.2%, almost double the 2.2% increase registered in the first quarter. This growth rate was the highest since the third quarter of 2014.