© Reuters. FILE PHOTO: A view of the exterior of the JP Morgan Chase & Co. corporate headquarters in New York City May 20, 2015. REUTERS/Mike Segar(Corrects June 3 story to reflect that bank says 17% referred to the month of May, not the year to date)
NEW YORK (Reuters) – Spending by customers holding JPMorgan Chase & Co (NYSE:) credit cards was up 17% in May over the same period in 2019, bank co-president Gordon Smith said on Thursday.
The uptick in credit card spending should mean that loans begin to grow modestly by the end of the year, Smith said.
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