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Consumer Payments Continued to Increase in September, finds Bank of America Data, Yet Evidence of a Housing Market Slowdown Emerges

Bank of America Payments and Spending Data Shows Consumers Continue to Demonstrate Robust Spending Growth Despite Cross-currents from Rising Utility and Childcare Costs

Bank of America Payments and Spending Data Shows Consumers Continue to Demonstrate Robust Spending Growth Despite Cross-currents from Rising Utility and Childcare Costs

The Bank of America Institute released a new publication today which shows consumer spending continues to increase in August, but some consumers are feeling the effects of rising utility and childcare costs. Bank of America internal data suggests that the average utility payment increased by 16% year-over-year in August, largely offsetting the relief consumers may feel from falling gas prices.

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