San Francisco—Commercial spending by businesses and government agencies will reach $15 trillion by 2005, according to the Visa USA Commercial Consumption Expenditure (CCE) index.
Visa’s CCE is a financial metric that attempts to standardize how business and government spending is tracked and forecast in the U.S.
According to the latest CCE index, commercial spending by businesses and government will reach $14.5 trillion by the end of 2004, up 4.4% over 2003.
By 2010, commercial spending will reach $18 trillion, Visa projects.
The methodology for the CCE index draws on government data, using methods similar to the Personal Consumption Expenditure (PCE) index, Visa said.
Separately, Visa announced that it reached a commercial volume milestone, processing $104.7 billion in payments over VisaNet during its fiscal year ended June 30.