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First Data Stats Reveal Hurricane-Induced Whipsawing of Consumer Spending
September 14, 2017
By Jim Daly
One advantage in providing merchant-acquiring services to 3.6 million U.S. locations is that First Data Corp. has a unique read on how major disasters such as hurricanes affect consumer spending. Statistics from the Atlanta-based processor show that spending spiked in the Miami area just before Hurricane Irma made landfall in Florida Sept. 10, then plunged 57% from year earlier levels.
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