Reflecting the depths reached by the corporate travel industry in 2009, American Express´ global corporate travel sales shrunk 30 percent year over year to $14.6 billion, the company announced late yesterday in its fourth-quarter earnings call. That slide, however, seems to have stabilized as its global corporate travel sales were $4.1 billion in the quarter, a more moderate 5 percent decrease compared with last year.
While its corporate travel segment awaits a return to growth, overall card member spending increases and positive credit and economic indicators spiked the company´s overall performance numbers.
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