Consumer resilient but gradually slowing

The Bank of America Institute joins for a discussion on the many data sources they examine, sources that offer a multi-dimensional look at the consumer. Data suggests the US consumer has weakened somewhat since the start of the year, with household spending growth falling to the lowest level since February 2021. Some of the weakness is likely temporary and follows what was a very strong start to the year, and it's noteworthy that total payments, which goes beyond credit and debit card spending, are stronger than card spending. We also discuss regional differences in job growth, how spending in the Midwest has held up better than elsewhere and offer reasons why female labor participation continues to lag.

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