Reported 2 months ago
As summer ends, insights reveal that consumer spending remains strong, with a notable increase in both credit and debit transactions. Aron Levine from Bank of America highlights a 2.5% year-over-year rise in spending, particularly in services and entertainment, driven by wage growth and confidence in employment. Consumers are making more travel plans, like trips to Paris for the Olympics, and indulging in dining and entertainment experiences.
Source: YAHOO