Consumer spending on goods and services, which makes up 70% of American Express’s business, grew at a similar pace to the first quarter, Le Caillec said. Travel and entertainment, meanwhile, declined a bit from the prior quarter due to less spending on airline and lodging. Restaurant spending remained strong.

American Express (NYSE: AXP) announced that Business Platinum Card® Members in the U.S. have the opportunity to unlock over $2,000 in value in statement credits, including updated credits with Dell Technologies and Adobe that launched July 1,