Oh, what a grief. Media & stock markets are speculating on a new recession now. But there is more strength in the world economy than the gloomy sentiment shows.
Take a look on MasterCard. Today the global payment process company reported strong growth (bloomberg ). Its second-quarter profit jumped 33%, revenue rose 22% to $1.67 billion.
The management said, the number of transactions they handled rose 17% . Both credit and debit card use rose around the world, with debit growth over 22%.
This shows that consumers worldwide are still in spending mood and raise their expenditures. The motor of the world economy, the consumer expenditures, is still running.