No alarm bells for the state of the consumer: BofA Institute

Bank Of America Institute News

No alarm bells for the state of the consumer: BofA Institute
Liz Everett KrisbergRetail SpendingCredit Card
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Credit card and debit card spending per household dropped in the month of June, according to data from the Bank of America Institute. Is this a signal of...

Credit card and debit card spending per household dropped in the month of June, according to data from the Bank of America Institute. Is this a signal of things to come for the consumer or is there more to the data?

She follows up by commenting on where consumers are spending:"It's food, and it's general merchandise. What are they not spending on? Furniture's down, technology's down, clothing's down."Watch the video above to hear what Everett Krisberg says credit card spending is showing about the economic impact of Taylor Swift.Among the headlines so far this earnings season from big banks, consumers are feeling the pinch of inflation.

Let me get your take to Jay Powell was speaking today, and obviously he touched on the labour market.Liz, is there anything that concerns you in the data?But what we look at again at the Bank of America Institute, we're really leveraging the 69 million consumer accounts that we have, and we can see the money that's coming into account so we can measure the after tax impact.

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Liz Everett Krisberg Retail Spending Credit Card

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