PoliticsAugust 11 at 06:41 AM

BofA Consumer Checkpoint: Total Card Spending (Jul) 5.0% Y/Y (prev. 6.3%); moderation appears tied to the fading of temporary boosts rather than a broad deterioration in underlying demand

StockNow breaking-news AI analysis

BofA's July card spending grew 5.0%, moderating from 6.3% due to fading temporary factors. Underlying demand remains resilient, supported by strong wage growth across all income levels.

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BofA Consumer Checkpoint: Total Card Spending (Jul) 5.0% Y/Y (prev. 6.3%); moderation appears tied to the fading of temporary boosts rather than a broad deterioration in underlying demand

What do investors think?

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