J.P. Morgan chief Jamie Dimon praised the strength of the consumer after the largest U.S. bank posted strong second-quarter quarterly earnings release on Tuesday.
J.P. Morgan chief Jamie Dimon praised the strength of the consumer after the largest U.S. bank posted better-than-expected second-quarter earnings on Tuesday.
"We continue to see positive momentum with the U.S. consumer – healthy confidence levels, solid job creation and rising wages – which are reflected in our Consumer & Community Banking results," Dimon said in the company's quarterly earnings release.Jamie Dimonpraised the strength of the U.S. consumer following the largest U.S. bank's strong quarterly earnings.
"We continue to see positive momentum with the U.S. consumer – healthy confidence levels, solid job creation and rising wages – which are reflected in our Consumer & Community Banking results," Dimon said in the company's quarterly earnings release.
Double digit growth in credit card sales and merchant processing further demonstrated that U.S. consumer spending is healthy. Credit card sales volume rose 11% this quarter and merchant processing volume increased 12%, the bank said.
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