Consumer Checkpoint

Consumers ended 2025 on a strong note and tax refunds may provide a further boost to spending over 2026.

Seasonal shopping trends underscore continued resilience, though tradeoffs and price sensitivity remain a key factor.

Consumer spending rose again in October, but price hikes and moderating wages suggest strain for some lower-income households.

Consumer spending has risen, but the gap between lower- and higher-income households remains pronounced.

Spending and wage growth continue to diverge for higher- and lower-income consumers.

Consumer spending increased again in July, but a gap is widening between lower- and higher-income households.

Consumer spending rebounded in June, but services spending fell for the third consecutive month. 

While their wage growth remains positive, younger generations’ spending has decelerated and their use of buy now, pay later is up.

Consumers continue to show moderate spending momentum, with most being in good financial health.

Consumers continued spending in March, but tariffs, slowing wage growth and inflation may pose headwinds.

Consumers show forward momentum, but at a measured pace as they balance grocery prices, policy changes and easing wage growth.

The financial health of consumers looks solid, though rising auto payments may be a risk if the economy deteriorates.

Will rising confidence and solid wage growth mean consumers will kick off the new year with momentum?

Consumers’ resilient momentum continued as the holiday season kicked off, but will it continue to pop in the new year?

Are consumers ready for the holidays?

Wage growth and home equity offer support to consumer spending, though there is less demand for higher-priced durable goods.

Strength in wages is supporting consumer spending and cushioning rising costs of auto loans. Plus, housing costs are easing.

Higher prices and slower income gains are pushing diners to rethink where and how often they eat out.

Jobs growth strengthened to 0.8% YoY in January, according to Bank of America internal data.

We find that tailgating football fans grill up big gains for local economies.