Consumer spending is 'soft but stable': Economist

  • 📰 YahooFinanceCA
  • ⏱ Reading Time:
  • 53 sec. here
  • 7 min. at publisher
  • 📊 Quality Score:
  • News: 42%
  • Publisher: 63%

Consumer Spending News

David Tinsley,Bank Of America,Inflationary Environment

According to a Bank of America report, total card spending in American households witnessed a 1% year-over-year increase in April, surpassing the 0.3% growth...

According to a Bank of America report, total card spending in American households witnessed a 1% year-over-year increase in April, surpassing the 0.3% growth observed in March. To shed light on this consumer spending trend, Bank of America Institute Senior Economist David Tinsley joins Wealth!

Bank of America's latest consumer checkpoint shows Total card spending per household in April rose 1% from the year prior, a big rise from 3/10 of a percent in March.On this, we turn to David Tinsley, who is the Bank of America Institute senior economist here.First and foremost, we just walk us through the top takeaway here and what you're seeing in card spending per household and what's really the catalyst there.

As of April, as you were just mentioning what's really driving that well, you know, I think first and foremost it's a labour market story. So you know that gives a little bit of wind in the sales for consumers receiving those wind, uh, W with receiving those refunds, too.With earnings around the corner, you can still pick up this dividend stock with a TSX-beating dividend at 8.9% as of writing! The post Beat the TSX With This Cash-Gushing Dividend Stock appeared first on The Motley Fool Canada.These Canadian stocks could help TFSA investors generate solid tax-free capital gains and dividends.

David Tinsley Bank Of America Inflationary Environment Spending American Households

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 47. in CA

Canada Latest News, Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Morgan Stanley consumer IPO banker Passi leaving the bank, sources sayExplore stories from Atlantic Canada.
Source: SaltWire Network - 🏆 45. / 63 Read more »

B.C. homebuyers waiting on Bank of Canada to drop rates: economistNew figures show home sales in March 2024 dropped by 9.5 per cent compared to March 2023.
Source: TerraceStandard - 🏆 24. / 68 Read more »

The BoC is ‘far more optimistic than us’: TD’s Beata Caranci on where economic growth, interest rates, real estate and stocks are headingThe Globe’s Jennifer Dowty interviews Toronto-Dominion Bank’s chief economist
Source: globeandmail - 🏆 5. / 92 Read more »

Regulators close Philadelphia-based Republic First Bank, first US bank failure this yearWASHINGTON (AP) — Regulators have closed Republic First Bank, a regional lender operating in Pennsylvania, New Jersey and New York. The Federal Deposit...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Deutsche Bank first-quarter profit jumps 10% as investment bank outperformsExplore stories from Atlantic Canada.
Source: SaltWire Network - 🏆 45. / 63 Read more »

Vietnam continues support for bank engulfed in massive fraud, central bank saysExplore stories from Atlantic Canada.
Source: SaltWire Network - 🏆 45. / 63 Read more »