Friday, May 30, 2025

Latest

Americans’ Credit Card Spending Slumped 1.2% in April

US consumer demand is showing signs of weakening, as households curtail their credit card spending for the first time since early 2021.

Data from the Bank of America indicates that household expenditures on credit cards dipped 1.2% year-over-year in April, in line with the latest CPI print indicating the Fed’s aggressive tightening cycle is taming consumer demand, and ultimately inflation. The bank’s figures mark the first decline in credit card spending since February 2021.

The Bank of America found that consumers spent the most at online retailers and at department stores, whilst significantly curtailing spending on airlines, lodging, and furniture— an indication that non-discretionary spending on leisure has likely peaked. Likewise, the data showed that household spending on durable goods also continues to wane.


Information for this briefing was found via Bank of America. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Leave a Reply

Video Articles

How To Profit From $3300 Gold? An Inside Look At A Massive 300,000 Oz Project | Martino De Ciccio

We’re At The Start of a Great Silver Boom | Ross McElroy & Andy Bowering – Apollo Silver Corp

Equinox Gold Q1 Earnings: When Everything Goes Wrong

Recommended

ESGold Begins Concentration Tests Ahead Of First Production

Sterling Metals Hits 0.21% Copper Over 482.8 Metres In First Drilling At Soo Copper project

Related News

Inflation Impact: Canadians are Slashing Essential Living Costs to Counteract Rising Prices

As inflation surges, an increasing number of Canadians are countering the heightened cost of living...

Thursday, May 25, 2023, 01:35:00 PM

Stellantis Sounds Alarm Over Structural Inflationary Pressures

Major automaker Stellantis NV has joined the growing list of companies sounding the alarm over...

Wednesday, July 21, 2021, 12:19:54 PM

Paint Supplier PPG Set to Raise Prices AGAIN Due to Inflation That is Not so Transitory

As the Federal Reserve continues to peddle its “transitory” inflation narrative, the list of companies...

Tuesday, July 13, 2021, 04:29:00 PM

US CPI Cools Slightly in October, Real Wages Continue to Tumble

US consumer prices remained elevated in October, albeit at a moderate pace after a drop...

Thursday, November 10, 2022, 09:29:43 AM

Turkey’s Central Bank Slashes Interest Rates AGAIN as Inflation Soars Above 80%

to the shock of markets and the rest of the developed world, Turkey’s central bank...

Friday, September 23, 2022, 03:10:55 PM