Visa released its annual global Commercial Consumption Expenditure (CCE) index, showing global commercial spending reached $109.1 trillion in 2011 for a 12% growth over the year ago figure of the $97.4 trillion spent in 2010. This is also the first ‘CCE’ since 2004 indicating spending passed the $100 trillion mark. The strongest year-over-year growth rates came from Latin America/Caribbean region (19.4 percent), followed by Central/Eastern Europe, Middle East Africa region (17.4 percent) and Asia Pacific region (14.9 percent). Asia Pacific reported the largest share of global CCE spend, followed by Europe, the United States, Central/Eastern Europe, Middle East and Africa, Latin America/Caribbean, and Canada. In this year’s (2011) index, Asia Pacific’s spending share surpassed Europe’s for the second consecutive year. The annual Visa CCE index captures business-to-business purchases to acquire goods and services used in production, wholesale and retail purchases of final goods, business capital expenditures, and government spending on goods and services.
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