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Bank of America Warns Consumer Spending Momentum Easing Across All Income Levels, Number of Households Receiving Unemployment Payments Growing

2025-07-04 03:52:39

Bank of America Warns Consumer Spending Momentum Easing Across All Income Levels, Number of Households Receiving Unemployment Payments Growing

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Consumer spending is slowing down across all income levels, according to the Bank of America’s research arm. The Bank of America Institute says consumer transactions and spending on unnecessary expenses have been waning since the beginning of the year. “The gradual easing in consumer spending momentum is not just due to lower inflation – the growth in the number of transactions has also cooled. Consumers appear to be pulling back particularly on bigger ticket discretionary services like airline ...

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