Getaways and giveaways
In June, total card spending per household was down 0.5% year-over-year, according to Bank of America internal data. Seasonally-adjusted total card spending dropped 0.1% month-over-month (MoM), but over the second quarter as a whole, total
应用介绍
In June, total card spending per household was down 0.5% year-over-year, according to Bank of America internal data.
Seasonally-adjusted total card spending dropped 0.1% month-over-month (MoM), but over the second quarter as a whole, total
card spending rose 0.3%, suggesting that while softening, there is still some momentum behind consumer spending.
• Services spending kept rising in June, up 0.2% MoM, and 0.4% over Q2, partly reflecting greater spending on leisure - both at
home and abroad.
• As for who is spending, while buoyant labor markets have benefited lower-income households, those with higher incomes are
also seeing expanding wealth through rising financial assets, and we find evidence they are increasing spending as a result. At
the same time, older, wealthier households appear to be distributing more of their assets to younger relatives.
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