Consumer Spending Data & Trends - Consumer Checkpoint

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.svg-line-v--center-2{-webkit-transform:rotate(-45deg);transform:rotate(-45deg)}.institute-navigation__aria-close{background-color:rgba(0,0,0,0);border:0;height:1.875rem;overflow:hidden;padding:0;position:absolute;right:1.25rem;top:-2.875rem;width:1.875rem}@media(min-width:64rem){.institute-navigation__aria-close{display:none}.institute-navigation__menu-sub{background-color:#fff;-webkit-box-shadow:0 1px 1px rgba(0,0,0,.12);box-shadow:0 1px 1px rgba(0,0,0,.12);left:50%;padding:1.125rem 1.5rem;position:absolute;top:100%;-webkit-transform:translateX(-50%);transform:translateX(-50%)}}.institute-navigation__links{list-style-type:none;margin:0;padding:0}.institute-navigation__dropdown-icon{color:var(--institute-navigation--font-color);display:none;margin-left:.75rem;-webkit-transition:all .2s ease-in-out;transition:all .2s 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.institute-navigation__dropdown-icon{-webkit-transform:rotate(180deg);transform:rotate(180deg)}@media(max-width:63.9375rem){.institute-navigation__item--has-sub-menu>.institute-navigation__menu-sub{display:block}}.institute-navigation__item--sub{color:var(--institute-navigation--font-color)}@media(min-width:64rem){.institute-navigation__item--sub{color:#0053c2;font-size:1.125rem;padding-block:.375rem}}.institute-navigation__link{background:-webkit-gradient(linear,left top,left bottom,from(currentColor),to(currentColor));background:linear-gradient(currentColor,currentColor);background-position:0 100%;background-repeat:no-repeat;background-size:0 .056em;cursor:pointer;-webkit-transition:background .6s cubic-bezier(.22,1,.36,1);transition:background .6s cubic-bezier(.22,1,.36,1)}.institute-navigation__link:focus-visible,.institute-navigation__link:hover{background-size:100% .056em}.institute-navigation__link--main,.institute-navigation__link--sub{color:var(--institute-navigation--font-color)}@media(min-width:64rem){.institute-navigation__link--sub{color:#0053c2}}.institute-navigation__link--hide-mobile{display:none}@media(min-width:64rem){.institute-navigation__link--hide-mobile{display:block}}.institute-navigation__menu{-webkit-box-orient:vertical;-webkit-box-direction:normal;display:-webkit-box;display:-ms-flexbox;display:flex;-ms-flex-direction:column;flex-direction:column;height:100vh;position:absolute;right:0;top:100%;width:100%}@media(min-width:64rem){.institute-navigation__menu{-webkit-box-orient:unset;-webkit-box-direction:unset;display:block;-ms-flex-direction:unset;flex-direction:unset;height:auto;position:static;right:unset;top:unset;width:auto}.institute-navigation__menu.collapse{display:block}.institute-navigation__menu-main>.institute-navigation__links{-webkit-box-orient:horizontal;-webkit-box-direction:normal;-webkit-box-align:start;-ms-flex-align:start;align-items:flex-start;display:-webkit-box;display:-ms-flexbox;display:flex;-ms-flex-direction:row;flex-direction:row;gap:2.5rem}}.institute-navigation__menu-height-container{background-color:var(--institute-navigation--menu-bg-color);margin:0;overflow-y:auto;padding:.5rem 3rem 1.25rem}@media(min-width:64rem){.institute-navigation__menu-height-container{background-color:rgba(0,0,0,0);overflow-y:unset;padding:0}.institute-navigation .navigation-spacer{display:none}}.institute-navigation__top{background-color:#fff}.institute-navigation__top .institute-navigation__wrapper{-webkit-box-pack:justify;-ms-flex-pack:justify;-webkit-box-align:center;-ms-flex-align:center;align-items:center;display:-webkit-box;display:-ms-flexbox;display:flex;height:100%;justify-content:space-between;padding-bottom:.875rem;padding-top:.875rem}.institute-navigation__logo{-ms-flex-negative:0;display:inline-block;flex-shrink:0;margin:auto 0;max-width:18.75rem}@media(min-width:75rem){.institute-navigation__logo{-ms-flex-preferred-size:25%;flex-basis:25%}}.institute-navigation__logo-link{display:inline-block;outline:1px solid rgba(0,0,0,0);vertical-align:middle}.institute-navigation__logo-link:focus{outline:1px solid #000}.institute-navigation__logo-image{height:auto;max-width:12.5rem;width:100%}@media(min-width:48rem){.institute-navigation__logo-image{display:block;max-width:15.3125rem}}.institute-navigation__logo-image--mobile{display:none}@media(min-width:48rem){.institute-navigation__logo-image--mobile{display:none}}.institute-navigation{--institute-navigation--hamburger-utility-font-color:#fff}.institute-navigation--internal-page{--institute-navigation--hamburger-utility-font-color:#012169}.institute-navigation__utility ul{padding-left:0}.institute-navigation__utility ul li{list-style-type:none}.institute-navigation__utility ul li a{color:#012169;font-family:Connections,Arial,Verdana,Helvetica,sans-serif;letter-spacing:0}.institute-navigation__utility--top{background-color:#ededed;padding:4px 0;width:100%;z-index:1050}@media(max-width:39rem){.institute-navigation__utility--top .hub-utility-nav{padding:0}}@media(min-width:40rem){.institute-navigation__utility--top 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.hub-nav__dropdown{-webkit-box-orient:vertical;-webkit-box-direction:normal;background-color:#f9f7f4;border:1px solid #ccc;display:-webkit-box;display:-ms-flexbox;display:flex;-ms-flex-direction:column;flex-direction:column;height:calc(100% - 2rem);position:fixed;right:-100%;text-align:center;top:2.875rem;width:100%;z-index:1050}@media(min-width:48rem){.institute-navigation__utility .hub-nav__dropdown{display:block;display:none;height:auto;padding:.813rem .813rem .625rem;position:absolute;right:2%;text-align:justify;top:3.5rem;width:31rem}.institute-navigation__utility .hub-nav__dropdown:before{background:url("/etc.clientlibs/institute/clientlibs/clientlib-site/resources/images/hub/arrow_up.png") no-repeat;background-size:contain;content:"";height:1.375rem;position:absolute;right:2.5rem;top:-1.25rem;width:2.5rem}}.institute-navigation__utility .hub-nav__dropdown-arrow{background:#eee url("/etc.clientlibs/institute/clientlibs/clientlib-site/resources/images/hub/left_arrow.png") no-repeat;background-position:50%;border:none;display:block;height:1.5rem;left:1.25rem;position:absolute;top:50%;-webkit-transform:translateY(-50%);transform:translateY(-50%);width:.8125rem}.institute-navigation__utility .hub-nav__dropdown-arrow:focus{outline:none}.institute-navigation__utility .hub-nav__dropdown-title{-webkit-box-pack:justify;-ms-flex-pack:justify;background-color:#eee;border-bottom:1px solid #ccc;display:-webkit-box;display:-ms-flexbox;display:flex;justify-content:space-between;position:relative}@media(min-width:48rem){.institute-navigation__utility .hub-nav__dropdown-title{display:none}}.institute-navigation__utility .hub-nav__dropdown-title-text{color:#333;font-family:Connections,Arial,Verdana,Helvetica,sans-serif;font-size:.875rem;line-height:2;margin:0;padding:.4375rem .3125rem;width:100%}.institute-navigation__utility .hub-nav__dropdown-title-text:hover{cursor:pointer}@media(min-width:48rem){.institute-navigation__utility .hub-nav__dropdown-title-text{background:none;border-bottom:0;font-size:1rem;line-height:1;padding:0 0 .25rem;pointer-events:none}}.institute-navigation__utility .hub-nav__dropdown-list{overflow-y:auto;padding:0 1.25rem}@media(min-width:48rem){.institute-navigation__utility .hub-nav__dropdown-list{padding:0}}.institute-navigation__utility .hub-nav__dropdown-list ul{padding:0}@media(min-width:48rem){.institute-navigation__utility .hub-nav__dropdown-list ul:first-child() li:last-child(){border-bottom:0}}.institute-navigation__utility .hub-nav__dropdown-list ul:last-child() li:last-child(){border-bottom:0}.institute-navigation__utility .hub-nav__dropdown-list ul li{border-bottom:1px solid #ccc}@media(min-width:48rem){.institute-navigation__utility .hub-nav__dropdown-list ul li{border-right:1px solid #ccc;width:100%}}.institute-navigation__utility .hub-nav__dropdown-list ul li a{color:#0073cf;display:block;font-size:.875rem;padding:.869rem .3125rem 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.056em;color:var(--institute-navigation--hamburger-utility-font-color);display:inline-block;font-size:1.25rem;margin-top:.625rem;-webkit-transition:background .6s cubic-bezier(.22,1,.36,1);transition:background .6s cubic-bezier(.22,1,.36,1)}.institute-navigation__utility.institute-navigation__utility--bottom .hub-utility-nav__links-l1>li>a:focus-visible,.institute-navigation__utility.institute-navigation__utility--bottom .hub-utility-nav__links-l1>li>a:hover{background-size:100% .056em}.institute-navigation__utility.institute-navigation__utility--bottom .hub-utility-nav__links:first-child a{margin-top:0}.institute-navigation__utility.institute-navigation__utility--bottom .hub-utility-nav__links a{display:block;font-size:.875rem}@media(min-width:48rem){.institute-navigation__utility.institute-navigation__utility--bottom{display:none}}.aem-AuthorLayer-Edit .institute-navigation__utility{position:relative}.aem-AuthorLayer-Edit .institute-navigation__utility--top{background:#fff}.aem-AuthorLayer-Edit .institute-navigation__utility--top .hub-utility-nav{background-color:#ededed;max-width:none}.institute-navigation{left:0;position:fixed;top:0;width:100vw;z-index:1020}.institute-navigation .notification-strip__wrapper{padding:0}.institute-navigation .notification-strip__content{max-width:80rem;padding-left:1.25rem;padding-right:1.25rem}@media(min-width:48rem){.institute-navigation .notification-strip__content{padding-left:2.5rem;padding-right:2.5rem}}.institute-navigation--edit{position:relative}@media (-ms-high-contrast:none),screen and (-ms-high-contrast:active){.institute-navigation .collapsing{-webkit-transition:none;transition:none}}.aem-AuthorLayer-Edit .institute-navigation{max-width:100%;position:relative}@media(min-width:90rem){.layout-container{margin-left:auto;margin-right:auto;max-width:100rem}.layout-container--fullbleed{max-width:unset}}.layout-container--rightrail{margin-bottom:1.875rem;padding-left:2rem;padding-right:2rem}@media(min-width:75rem){.layout-container--rightrail{padding-left:4rem;padding-right:4rem}}.layout-container--rightrail .layout-container__column-left{background-color:#fff;position:relative}@media(min-width:48rem){.layout-container--rightrail .layout-container__column-left{padding-left:8.33333333%;padding-right:8.33333333%}}.layout-container--rightrail .layout-container__column-right{height:100%;position:relative;width:100%}@media(min-width:48rem)and (max-width:64rem){.layout-container--rightrail .layout-container__column-right{padding-left:8.33333333%;padding-right:8.33333333%}}@media(min-width:64rem){.layout-container--rightrail .layout-container__column-right{padding-top:3.4375rem}}.layout-container--center .col{-webkit-box-pack:center;-ms-flex-pack:center;display:-webkit-box;display:-ms-flexbox;display:flex;-ms-flex-wrap:wrap;flex-wrap:wrap;justify-content:center}@media(min-width:48rem){.layout-container--center .col>div{-webkit-box-orient:vertical;-webkit-box-direction:normal;display:-webkit-box;display:-ms-flexbox;display:flex;-ms-flex-direction:column;flex-direction:column;padding:0 1rem}}.layout-container--edit [class^=col-]{border:1px dashed #ccc}.layout-container--edit .col{display:block}@media(min-width:48rem){.layout-container.column-separator--desktop .col:not(:last-child){border-right:1px solid #d5d5d5}}@media(max-width:47.9375rem){.layout-container.column-separator--all .col:not(:last-child):after,.layout-container.column-separator--mobile .col:not(:last-child):after{border-bottom:1px solid 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.video__button{right:1.25rem;top:1.25rem}}@media(min-width:64rem){.masthead__type--video .video__button{bottom:1.25rem;top:auto}}.masthead__type--video .video__button:hover{cursor:pointer}.masthead__type--video .video__button--play{display:none}.masthead__type--video .icon--pause:after{color:#fff;content:"";font-family:IR-Icons;font-size:2rem}.masthead__type--video .icon--play:after{color:#fff;content:"";font-family:IR-Icons;font-size:2rem}.masthead__size--small{height:11.25rem}@media(min-width:48rem){.masthead__size--small{height:16.5625rem}}@media(min-width:64rem){.masthead__size--small{height:16.5625rem}}@media(min-width:75rem){.masthead__size--small{height:16.25rem}}.masthead__size--medium{height:20rem}@media(min-width:48rem){.masthead__size--medium{height:20rem}}@media(min-width:64rem){.masthead__size--medium{height:21.25rem}}@media(min-width:75rem){.masthead__size--medium{height:23.75rem}}.masthead__size--large{height:23.4375rem}.masthead__size--large 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.navigation-spacer{display:none}}.navigation__menu-sub{width:100%}@media(min-width:75rem){.navigation__menu-sub{background-color:rgba(255,255,255,.7);left:0;margin-top:.4375rem;position:fixed}}.navigation__menu-sub .navigation__links{-webkit-box-pack:center;-ms-flex-pack:center;justify-content:center}.navigation__links{list-style-type:none;margin:0;padding:0}@media(min-width:75rem){.navigation__links{-webkit-box-pack:center;-ms-flex-pack:center;display:-webkit-box;display:-ms-flexbox;display:flex;justify-content:center}}.navigation__item{-webkit-transition:all .2s linear;transition:all .2s linear}@media(max-width:74.9375rem){.navigation__item--main{-webkit-box-pack:justify;-ms-flex-pack:justify;-webkit-box-align:center;-ms-flex-align:center;align-items:center;border-top:1px solid #d5d5d5;display:-webkit-box;display:-ms-flexbox;display:flex;-ms-flex-wrap:wrap;flex-wrap:wrap;justify-content:space-between;padding:1.25rem 1.5625rem}}@media(min-width:75rem){.navigation__item--main{margin:0 1.875rem;padding:2px}}.navigation__item--main:first-child{margin-left:0}.navigation__item--main:last-child{margin-right:0}.navigation__item--main:not(.navigation__item--main-with-subitems){background-color:#fff}.navigation__item--main:not(.navigation__item--main-with-subitems) a{color:#012169}@media(max-width:74.9375rem){.navigation__item--sub{padding-left:1.5625rem;padding-right:1.5625rem}}.navigation__link{color:#012169;display:inline-block;font-size:1.125rem;-webkit-transition:all .2s linear;transition:all .2s linear}.navigation__link--main.active,.navigation__link--main:focus,.navigation__link--main:hover{text-decoration:underline}.navigation__link--sub{margin:1.25rem 0 0}@media(min-width:75rem){.navigation__link--sub{margin:0;padding:.875rem 2.5rem}.navigation__link--sub:focus,.navigation__link--sub:hover{background-color:#fff;-webkit-box-shadow:0 2px 2px 0 rgba(0,0,0,.1);box-shadow:0 2px 2px 0 rgba(0,0,0,.1)}}.navigation__toggle{background:none;border:none;cursor:pointer;z-index:1}.navigation__toggle svg{display:block;-webkit-transition:all .2s ease-in-out;transition:all .2s ease-in-out}.navigation__toggle--main{height:2.3125rem;padding:0;width:2.3125rem}@media(min-width:75rem){.navigation__toggle--main{display:none}}@media (-ms-high-contrast:none),screen and (-ms-high-contrast:active){.navigation__toggle--main.active svg{display:none}.navigation__toggle--main.active:after{color:#000;content:"";font-family:IR-Icons;font-size:1rem}}.navigation__toggle--main 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.svg-line-v--bottom{-webkit-transform:translateY(-14px);transform:translateY(-14px)}.navigation__toggle--main.active .svg-line-v--center{-webkit-transition-delay:.2s;transition-delay:.2s}.navigation__toggle--main.active .svg-line-v--center-1{-webkit-transform:rotate(45deg);transform:rotate(45deg)}.navigation__toggle--main.active .svg-line-v--center-2{-webkit-transform:rotate(-45deg);transform:rotate(-45deg)}.navigation__toggle--sub{height:1.0625rem;margin-left:.3125rem;padding:.125rem;width:1.0625rem}@media(min-width:75rem){.navigation__toggle--sub.active svg{-webkit-transform:rotate(45deg);transform:rotate(45deg)}}@media(max-width:74.9375rem){.navigation__toggle--sub.active .svg-line-v{display:none}.navigation.open{height:100%}.navigation.open .navigation__menu-main{margin-bottom:2.5rem}}.navigation__top{background-color:#fff}.navigation__top .navigation__wrapper{height:2.625rem}@media(max-width:74.9375rem){.navigation__top .navigation__wrapper{-webkit-box-align:center;-ms-flex-align:center;-webkit-box-pack:justify;-ms-flex-pack:justify;align-items:center;display:-webkit-box;display:-ms-flexbox;display:flex;justify-content:space-between;padding-left:1.5625rem;padding-right:1.5625rem}}@media(min-width:48rem){.navigation__top .navigation__wrapper{height:3.75rem}}@media(min-width:75rem){.navigation__top .navigation__wrapper{-webkit-box-pack:justify;-ms-flex-pack:justify;display:-webkit-box;display:-ms-flexbox;display:flex;height:4.375rem;justify-content:space-between;padding-bottom:1.25rem;padding-top:1.25rem}}.navigation{background-color:#fff;-webkit-box-shadow:0 1px 4px 0 rgba(0,0,0,.17);box-shadow:0 1px 4px 0 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auto;position:relative}.navigation__logo{display:inline-block}.navigation__logo-image{height:auto;max-width:10.3125rem;width:100%}@media(min-width:48rem){.navigation__logo-image{max-width:12.5rem}}@media(min-width:75rem){.navigation__logo-image{max-width:17.1875rem}}.navigation--edit{position:relative}@media (-ms-high-contrast:none),screen and (-ms-high-contrast:active){.navigation .collapsing{-webkit-transition:none;transition:none}}.navigation-spacer{-webkit-box-flex:1;-ms-flex:1 0 auto;flex:1 0 auto;height:106px}.navigation-spacer--edit{display:none}.aem-AuthorLayer-Edit .experiencefragment-navigation{margin-left:-2rem;margin-right:-2rem}@media(min-width:30rem)and (max-width:82rem){.aem-AuthorLayer-Edit .experiencefragment-navigation{margin-left:-4rem;margin-right:-4rem}}@media(max-width:74.9375rem){.aem-AuthorLayer-Edit .experiencefragment-navigation .navigation__utility--top{display:none}}.aem-AuthorLayer-Edit body.page{padding-top:0}.aem-AuthorLayer-Edit .navigation{position:relative}.navigation__utility .utility-nav li{list-style:none}.navigation__utility .utility-nav li a{color:#000;display:block;font-size:.875rem;line-height:1}.navigation__utility .utility-nav li.active,.navigation__utility .utility-nav li:hover{color:#000;text-decoration:underline}.navigation__utility--top{-ms-flex-item-align:end;-webkit-box-flex:1;-ms-flex-positive:1;align-self:flex-end;display:none;flex-grow:1;margin:0 .3125rem 0 3.75rem}@media(min-width:75rem){.navigation__utility--top{display:block}}.navigation__utility--top .utility-nav{-webkit-box-pack:justify;-ms-flex-pack:justify;display:-webkit-box;display:-ms-flexbox;display:flex;justify-content:space-between}.navigation__utility--top .utility-nav-left{margin-right:auto}.navigation__utility--top .utility-nav-left li{margin-right:2.5rem}.navigation__utility--top .utility-nav-right{margin-left:auto}.navigation__utility--top .utility-nav-right li{margin-left:2.5rem}.navigation__utility--bottom{background:#f5f5f5;padding-bottom:.625rem}@media(min-width:75rem){.navigation__utility--bottom{display:none}}.navigation__utility--bottom .utility-nav li{padding:.9375rem 1.5625rem}.notification-strip{background-color:#012169;color:#fff;font-family:Connections,Arial,Verdana,Helvetica,sans-serif;padding:.875rem 0;width:100%}@media(min-width:48rem){.notification-strip{padding:.5rem 0}}.notification-strip__wrapper{padding-left:1.5625rem;padding-right:1.5625rem}@media(min-width:75rem){.notification-strip__wrapper{padding-left:4rem;padding-right:4rem}}.notification-strip__content{font-size:.75rem}@media(min-width:48rem){.notification-strip__content{font-size:1.125rem}}.notification-strip__content *{color:inherit;font-size:inherit;line-height:inherit}.notification-strip__content * a{font-size:inherit;line-height:inherit;margin-left:.3125rem;text-decoration:underline}.aem-AuthorLayer-Edit .notification-strip{margin:0;position:relative;top:0} </style> <link rel="stylesheet" href="/etc.clientlibs/institute/clientlibs/clientlib-base.min.css" type="text/css"> <link rel="stylesheet" href="/etc.clientlibs/unity/core/clientlibs/clientlib-global.min.css" type="text/css"> <link rel="stylesheet" href="/etc.clientlibs/unity/core/clientlibs/clientlib-typography.min.css" type="text/css"> <link rel="stylesheet" href="/etc.clientlibs/unity/core/clientlibs/clientlib-components.min.css" type="text/css"> <link rel="stylesheet" href="/etc.clientlibs/institute/clientlibs/clientlib-dependencies.min.css" type="text/css"> <link rel="stylesheet" href="/etc.clientlibs/institute/clientlibs/clientlib-site.min.css" type="text/css"> <script src="/etc.clientlibs/institute/clientlibs/clientlib-analytics.min.js"></script> <script defer src="/etc.clientlibs/unity/core/clientlibs/clientlib-components.min.js"></script> <script defer src="/etc.clientlibs/institute/clientlibs/clientlib-dependencies.min.js"></script> <link rel="shortcut icon" 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<div class="aem-wrap--background-container"> <div class="background-container container-full-bleed background-container--pb-30"> <div class="background-container__content container-fluid background-container--white"> <div class="aem-wrap--callout-container"> <div class="callout-container callout-container--masthead hasEyebrow hasH1"> <div class="callout-container__content callout-container__content--white"> <div class="callout-container__content-wrapper center-xs"> <div class="header "> <div class="header__eyebrow header--eyebrow header--blue"> bank of america institute </div> <h1 class="header__headline header--h2 "> Consumer Checkpoint </h1> <div class="header__subheadline" data-props-tagging-label="Text_Link-_-Hyperlink-_-" data-props-tagging-class="t-track-text-link" data-action="text-component"> <p style="text-align: center;">Consumer Checkpoint aims to provide a holistic and real-time look at U.S. consumers' spending and financial well-being. A regular publication of Bank of America Institute, it leverages the depth and breadth of the bank's proprietary data to produce original perspectives.</p> </div> </div> </div> </div> </div></div> <div class="aem-wrap--cta"> <div class="cta-container cta--center"> <a class="cta cta--caret cta--royal-blue t-track-cta-link" target="_self" href="/" data-bactmln="StandaloneCTA-_-CTA-_-go-to-bank-of-america-institute_/"> Go to Bank of America Institute</a> </div> </div> <div class="aem-wrap--separator"> <div class="separator separator--transparent separator--top-padding-none separator--bottom-padding-none"> <div class="separator__line separator__line--transparent separator__line--thin"></div> </div></div> <div class="aem-wrap--separator"> <div class="separator separator--transparent separator--top-padding-small separator--bottom-padding-small"> <div class="separator__line separator__line--transparent separator__line--thin"></div> </div></div> <div class="aem-wrap--layout-container"> <div id="layout_56292" class="layout-container "> <div class="layout-container__content container "> <div class="row"> <div class="col col-xs-12"> <div class="aem-wrap--rich-text-block"> <div id="rich-text-block_78003" class="rich-text-block rich-text-block--default "> <div class="rich-text-block__wrapper reverse rich-text-block--image-right"> <div class="rich-text-block__image"> <div id="image_5410" class="image image--single " data-action="image-component"> <div class="image__wrapper "> <div class="image__content"> <picture class="image__picture"> <img class="image__img " src="/content/dam/bank-of-america-institute/consumer-checkpoint-february-2025/Tiles_640x360_copy.jpg" width="640" height="360" alt="2 hands holding a digital tablet and a credit card" aria-hidden="false"/> </picture> </div> </div> </div> </div> <div class="rich-text-block__content"> <div class="content__wrapper"> <div class="header "> <div class="header__eyebrow header--eyebrow header--blue"> february 2025 </div> <h2 class="header__headline header--h3 "> Consumer Checkpoint: Some chills, but no shadows </h2> </div> <div class="content__body "><p>The financial health of consumers looks solid, though rising auto payments may be a risk if the economy deteriorates.</p> </div> <div class="content__ctas"> <div class="cta-container cta--left"> <a class="cta cta--caret cta--royal-blue t-track-textblock-cta-link" target="_self" href="/economic-insights/consumer-checkpoint-february-2025.html" data-bactmln="Textblock-_-CTA-_-learn-more_/economic-insights/consumer-checkpoint-february-2025.html"> Learn more</a> </div> </div> </div> </div> </div> </div></div> </div> </div> </div> </div> </div> <div class="aem-wrap--separator"> <div class="separator separator--transparent separator--top-padding-small separator--bottom-padding-small"> <div class="separator__line separator__line--transparent separator__line--thin"></div> </div></div> <div class="aem-wrap--background-container"> <div class="background-container container-full-bleed background-container--pt-70 background-container--pb-30"> <div class="background-container__content container-fluid background-container--gray"> <div class="aem-wrap--header"> <div class="header header--center"> <h3 class="header__headline header--h3 "> Consumer Checkpoint archive </h3> <div class="header__subheadline" data-props-tagging-label="Text_Link-_-Hyperlink-_-" data-props-tagging-class="t-track-text-link" data-action="text-component"> <p>Review our analyses from prior months.</p> </div> </div></div> <div class="aem-wrap--separator"> <div class="separator separator--transparent separator--top-padding-none separator--bottom-padding-none"> <div class="separator__line separator__line--transparent separator__line--thin"></div> </div></div> <div class="aem-wrap--tile-container"> <div class="tile-container tile-container--content tile-container--col-3 " data-action="tile-container-component" data-props-show-more data-props-initial-load-count="3" data-props-show-items-count="6"> <div class="container"> <div class="tiles row page-tiles "> <div class="aem-wrap--tile"> <a class="tile-anchor js-tile-anchor js-tile-tag-link t-track-tile-link" href="/economic-insights/consumer-checkpoint-january-2025.html" data-bactmln="Tile-_-Hyperlink-_-consumer-checkpoint:-resolute-in-the-new-year?_[position]_/economic-insights/consumer-checkpoint-january-2025.html"> <div class="tile js-tile "> <div class="tile__body-container"> <div class="tile__lead-in header--article-tile-eyebrow header--blue ">january 2025</div> <h4 class="tile__headline header--h4 header--default-color "> Consumer Checkpoint: Resolute in the new year? </h4> <div class="tile__body color-default " data-props-tagging-label="Text_Link-_-Hyperlink-_-" data-props-tagging-class="t-track-text-link" data-action="text-component"><p>Will rising confidence and solid wage growth mean consumers will kick off the new year with momentum?</p> </div> <div class="tile__metadata "> <span class="icon-communication-book" aria-hidden="true"></span> <div class="tile__metadata-text">2 min read</div> </div> </div> </div> </a> </div> <div class="aem-wrap--tile"> <a class="tile-anchor js-tile-anchor js-tile-tag-link t-track-tile-link" target="_self" href="/economic-insights/consumer-checkpoint-december-2024.html" data-bactmln="Tile-_-Hyperlink-_-consumer-checkpoint:-no-turkeys-and-some-fizz_[position]_/economic-insights/consumer-checkpoint-december-2024.html"> <div class="tile js-tile "> <div class="tile__body-container"> <div class="tile__lead-in header--article-tile-eyebrow header--blue ">december 2024</div> <h4 class="tile__headline header--h4 header--default-color "> Consumer Checkpoint: No turkeys and some fizz </h4> <div class="tile__body color-default " data-props-tagging-label="Text_Link-_-Hyperlink-_-" data-props-tagging-class="t-track-text-link" data-action="text-component"><p>Consumers’ resilient momentum continued as the holiday season kicked off, but will it continue to pop in the new year?</p> </div> <div class="tile__metadata "> <span class="icon-communication-book" aria-hidden="true"></span> <div class="tile__metadata-text">2 min read</div> </div> </div> </div> </a> </div> <div class="aem-wrap--tile"> <a class="tile-anchor js-tile-anchor js-tile-tag-link t-track-tile-link" target="_self" href="/economic-insights/consumer-checkpoint-november-2024.html" data-bactmln="Tile-_-Hyperlink-_-consumer-checkpoint:-holiday-spending-unwrapped_[position]_/economic-insights/consumer-checkpoint-november-2024.html"> <div class="tile js-tile "> <div class="tile__body-container"> <div class="tile__lead-in header--article-tile-eyebrow header--blue ">november 2024</div> <h4 class="tile__headline header--h4 header--default-color "> Consumer Checkpoint: Holiday spending unwrapped </h4> <div class="tile__body color-default " data-props-tagging-label="Text_Link-_-Hyperlink-_-" data-props-tagging-class="t-track-text-link" data-action="text-component"><p>Are consumers ready for the holidays?</p> </div> <div class="tile__metadata "> <span class="icon-communication-book" aria-hidden="true"></span> <div class="tile__metadata-text">2 min read</div> </div> </div> </div> </a> </div> <div class="aem-wrap--tile"> <a class="tile-anchor js-tile-anchor js-tile-tag-link t-track-tile-link" target="_self" href="/economic-insights/consumer-checkpoint-october-2024.html" data-bactmln="Tile-_-Hyperlink-_-consumer-checkpoint:-will-home-equity-make-spending-more-durable?_[position]_/economic-insights/consumer-checkpoint-october-2024.html"> <div class="tile js-tile "> <div class="tile__body-container"> <div class="tile__lead-in header--article-tile-eyebrow header--blue ">october 2024</div> <h4 class="tile__headline header--h4 header--default-color "> Consumer Checkpoint: Will home equity make spending more durable? </h4> <div class="tile__body color-default " data-props-tagging-label="Text_Link-_-Hyperlink-_-" data-props-tagging-class="t-track-text-link" data-action="text-component"><p>Wage growth and home equity offer support to consumer spending, though there is less demand for higher-priced durable goods.</p> </div> <div class="tile__metadata "> <span class="icon-communication-book" aria-hidden="true"></span> <div class="tile__metadata-text">2 min read</div> </div> </div> </div> </a> </div> <div class="aem-wrap--tile"> <a class="tile-anchor js-tile-anchor js-tile-tag-link t-track-tile-link" target="_self" href="/economic-insights/consumer-checkpoint-september-2024.html" data-bactmln="Tile-_-Hyperlink-_-consumer-checkpoint:-tapping-the-brakes?_[position]_/economic-insights/consumer-checkpoint-september-2024.html"> <div class="tile js-tile "> <div class="tile__body-container"> <div class="tile__lead-in header--article-tile-eyebrow header--blue ">september 2024</div> <h4 class="tile__headline header--h4 header--default-color "> Consumer Checkpoint: Tapping the brakes? </h4> <div class="tile__body color-default " data-props-tagging-label="Text_Link-_-Hyperlink-_-" data-props-tagging-class="t-track-text-link" data-action="text-component"><p>Strength in wages is supporting consumer spending and cushioning rising costs of auto loans. Plus, housing costs are easing.</p> </div> <div class="tile__metadata "> <span class="icon-communication-book" aria-hidden="true"></span> <div class="tile__metadata-text">2 min read</div> </div> </div> </div> </a> </div> <div class="aem-wrap--tile"> <a class="tile-anchor js-tile-anchor js-tile-tag-link t-track-tile-link" target="_self" href="/economic-insights/consumer-checkpoint-august-2024.html" data-bactmln="Tile-_-Hyperlink-_-consumer-checkpoint:-facing-hurdles-or-the-high-jump?_[position]_/economic-insights/consumer-checkpoint-august-2024.html"> <div class="tile js-tile "> <div class="tile__body-container"> <div class="tile__lead-in header--article-tile-eyebrow header--blue ">august 2024</div> <h4 class="tile__headline header--h4 header--default-color "> Consumer Checkpoint: Facing hurdles or the high jump? </h4> <div class="tile__body color-default " data-props-tagging-label="Text_Link-_-Hyperlink-_-" data-props-tagging-class="t-track-text-link" data-action="text-component"><p>Spending momentum has slowed and consumers are more price sensitive, but elevated deposits and positive wage growth offer support.</p> </div> <div class="tile__metadata "> <span class="icon-communication-book" aria-hidden="true"></span> <div class="tile__metadata-text">2 min read</div> </div> </div> </div> </a> </div> <div class="aem-wrap--tile"> <a class="tile-anchor js-tile-anchor js-tile-tag-link t-track-tile-link" href="/economic-insights/consumer-checkpoint-july-2024.html" data-bactmln="Tile-_-Hyperlink-_-consumer-checkpoint:-getaways-and-giveaways_[position]_/economic-insights/consumer-checkpoint-july-2024.html"> <div class="tile js-tile "> <div class="tile__body-container"> <div class="tile__lead-in header--article-tile-eyebrow header--blue ">july 2024</div> <h4 class="tile__headline header--h4 header--default-color "> Consumer Checkpoint: Getaways and giveaways </h4> <div class="tile__body color-default " data-props-tagging-label="Text_Link-_-Hyperlink-_-" data-props-tagging-class="t-track-text-link" data-action="text-component"><p>Services spending kept rising in June – both at home and abroad. Is rising financial wealth leading to firmer spending growth?</p> </div> <div class="tile__metadata "> <span class="icon-communication-book" aria-hidden="true"></span> <div class="tile__metadata-text">2 min read</div> </div> </div> </div> </a> </div> <div class="aem-wrap--tile"> <a class="tile-anchor js-tile-anchor js-tile-tag-link t-track-tile-link" target="_self" href="/economic-insights/consumer-checkpoint-june-2024.html" data-bactmln="Tile-_-Hyperlink-_-consumer-checkpoint:-the-kids-are-alright-for-now_[position]_/economic-insights/consumer-checkpoint-june-2024.html"> <div class="tile js-tile "> <div class="tile__body-container"> <div class="tile__lead-in header--article-tile-eyebrow header--blue ">june 2024</div> <h4 class="tile__headline header--h4 header--default-color "> Consumer Checkpoint: The kids are alright (for now) </h4> <div class="tile__body color-default " data-props-tagging-label="Text_Link-_-Hyperlink-_-" data-props-tagging-class="t-track-text-link" data-action="text-component"><p>Gen Z and Millennial spending is boosted by labor market strength, but slowing discretionary spending could suggest pressure.</p> </div> <div class="tile__metadata "> <span class="icon-communication-book" aria-hidden="true"></span> <div class="tile__metadata-text">2 min read</div> </div> </div> </div> </a> </div> <div class="aem-wrap--tile"> <a class="tile-anchor js-tile-anchor js-tile-tag-link t-track-tile-link" target="_self" href="/economic-insights/consumer-checkpoint-may-2024.html" data-bactmln="Tile-_-Hyperlink-_-consumer-checkpoint:-april-flowers,-not-showers_[position]_/economic-insights/consumer-checkpoint-may-2024.html"> <div class="tile js-tile "> <div class="tile__body-container"> <div class="tile__lead-in header--article-tile-eyebrow header--blue ">may 2024</div> <h4 class="tile__headline header--h4 header--default-color "> Consumer Checkpoint: April flowers, not showers </h4> <div class="tile__body color-default " data-props-tagging-label="Text_Link-_-Hyperlink-_-" data-props-tagging-class="t-track-text-link" data-action="text-component"><p>Consumer spending and wage momentum continues, especially for lower-income cohorts, but property insurance costs pose risks.</p> </div> <div class="tile__metadata "> <span class="icon-communication-book" aria-hidden="true"></span> <div class="tile__metadata-text">2 min read</div> </div> </div> </div> </a> </div> <div class="aem-wrap--tile"> <a class="tile-anchor js-tile-anchor js-tile-tag-link t-track-tile-link" target="_self" href="/economic-insights/consumer-checkpoint-april-2024.html" data-bactmln="Tile-_-Hyperlink-_-consumer-checkpoint:-early-easter-and-hopped-up-refunds_[position]_/economic-insights/consumer-checkpoint-april-2024.html"> <div class="tile js-tile "> <div class="tile__body-container"> <div class="tile__lead-in header--article-tile-eyebrow header--blue ">april 2024</div> <h4 class="tile__headline header--h4 header--default-color "> Consumer Checkpoint: Early Easter and hopped-up refunds </h4> <div class="tile__body color-default " data-props-tagging-label="Text_Link-_-Hyperlink-_-" data-props-tagging-class="t-track-text-link" data-action="text-component"><p>Spending softened in March, but continued wage growth, tax refunds, and easing rent inflation should support consumer momentum.</p> </div> <div class="tile__metadata "> <span class="icon-communication-book" aria-hidden="true"></span> <div class="tile__metadata-text">2 min read</div> </div> </div> </div> </a> </div> <div class="aem-wrap--tile"> <a class="tile-anchor js-tile-anchor js-tile-tag-link t-track-tile-link" target="_self" href="/economic-insights/consumer-checkpoint-march-2024.html" data-bactmln="Tile-_-Hyperlink-_-consumer-checkpoint:-no-underlying-leaps-in-february_[position]_/economic-insights/consumer-checkpoint-march-2024.html"> <div class="tile js-tile "> <div class="tile__body-container"> <div class="tile__lead-in header--article-tile-eyebrow header--blue ">march 2024</div> <h4 class="tile__headline header--h4 header--default-color "> Consumer Checkpoint: No underlying leaps in February </h4> <div class="tile__body color-default " data-props-tagging-label="Text_Link-_-Hyperlink-_-" data-props-tagging-class="t-track-text-link" data-action="text-component"><p>Consumer spending momentum is soft but stable, though there are signs lower-income households’ spending growth is slowing.</p> </div> <div class="tile__metadata "> <span class="icon-communication-book" aria-hidden="true"></span> <div class="tile__metadata-text">2 min read</div> </div> </div> </div> </a> </div> <div class="aem-wrap--tile"> <a class="tile-anchor js-tile-anchor js-tile-tag-link t-track-tile-link" target="_self" href="/economic-insights/consumer-checkpoint-february-2024.html" data-bactmln="Tile-_-Hyperlink-_-consumer-checkpoint:-amidst-the-freeze,-is-confidence-thawing?_[position]_/economic-insights/consumer-checkpoint-february-2024.html"> <div class="tile js-tile "> <div class="tile__body-container"> <div class="tile__lead-in header--article-tile-eyebrow header--blue ">february 2024</div> <h4 class="tile__headline header--h4 header--default-color "> Consumer Checkpoint: Amidst the freeze, is confidence thawing? </h4> <div class="tile__body color-default " data-props-tagging-label="Text_Link-_-Hyperlink-_-" data-props-tagging-class="t-track-text-link" data-action="text-component"><p>Though winter weather softened spending in January, consumers’ sentiment is on the rise and their financial health remains strong.</p> </div> <div class="tile__metadata "> <span class="icon-communication-book" aria-hidden="true"></span> <div class="tile__metadata-text">2 min read</div> </div> </div> </div> </a> </div> <div class="aem-wrap--tile"> <a class="tile-anchor js-tile-anchor js-tile-tag-link t-track-tile-link" target="_self" href="/economic-insights/consumer-checkpoint-january-2024.html" data-bactmln="Tile-_-Hyperlink-_-consumer-checkpoint:-out-with-the-old,-in-with-the-new?_[position]_/economic-insights/consumer-checkpoint-january-2024.html"> <div class="tile js-tile "> <div class="tile__body-container"> <div class="tile__lead-in header--article-tile-eyebrow header--blue ">january 2024</div> <h4 class="tile__headline header--h4 header--default-color "> Consumer Checkpoint: Out with the old, in with the new? </h4> <div class="tile__body color-default " data-props-tagging-label="Text_Link-_-Hyperlink-_-" data-props-tagging-class="t-track-text-link" data-action="text-component"><p>Consumers remain resilient as wage gains support low- and middle-income households, though some plan to pull back in 2024.</p> </div> <div class="tile__metadata "> <span class="icon-communication-book" aria-hidden="true"></span> <div class="tile__metadata-text">2 min read</div> </div> </div> </div> </a> </div> <div class="aem-wrap--tile"> <a class="tile-anchor js-tile-anchor js-tile-tag-link t-track-tile-link" target="_self" href="/economic-insights/consumer-checkpoint-december-2023.html" data-bactmln="Tile-_-Hyperlink-_-consumer-checkpoint:-happy-holidays?_[position]_/economic-insights/consumer-checkpoint-december-2023.html"> <div class="tile js-tile "> <div class="tile__body-container"> <div class="tile__lead-in header--article-tile-eyebrow header--blue ">december 2023</div> <h4 class="tile__headline header--h4 header--default-color "> Consumer Checkpoint: Happy holidays? </h4> <div class="tile__body color-default " data-props-tagging-label="Text_Link-_-Hyperlink-_-" data-props-tagging-class="t-track-text-link" data-action="text-component"><p>Holiday shopping and income growth supported consumer spending in November, with younger consumers more driven by promotions.</p> </div> <div class="tile__metadata "> <span class="icon-communication-book" aria-hidden="true"></span> <div class="tile__metadata-text">2 min read</div> </div> </div> </div> </a> </div> <div class="aem-wrap--tile"> <a class="tile-anchor js-tile-anchor js-tile-tag-link t-track-tile-link" target="_self" href="https://institute.bankofamerica.com/economic-insights/consumer-checkpoint-november-2023.html" data-bactmln="Tile-_-Hyperlink-_-consumer-checkpoint:-another-month-of-moderation_[position]_https://institute.bankofamerica.com/economic-insights/consumer-checkpoint-november-2023.html"> <div class="tile js-tile "> <div class="tile__body-container"> <div class="tile__lead-in header--article-tile-eyebrow header--blue ">november 2023</div> <h4 class="tile__headline header--h4 header--default-color "> Consumer Checkpoint: Another month of moderation </h4> <div class="tile__body color-default " data-props-tagging-label="Text_Link-_-Hyperlink-_-" data-props-tagging-class="t-track-text-link" data-action="text-component"><p>Low- and high-income household spending growth converges, high-income wage growth ticks up, and deposits remain elevated.</p> </div> <div class="tile__metadata "> 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class="aem-wrap--header"> <div class="header header--center"> <h2 class="header__headline header--h3 header--blue"> Most recent from Bank of America Institute </h2> <div class="header__subheadline" data-props-tagging-label="Text_Link-_-Hyperlink-_-" data-props-tagging-class="t-track-text-link" data-action="text-component"> <p>Explore our latest insights on the economy, sustainability and global transformation.</p> </div> </div></div> <div class="aem-wrap--separator"> <div class="separator separator--transparent separator--top-padding-none separator--bottom-padding-none"> <div class="separator__line separator__line--transparent separator__line--thin"></div> </div></div> <div class="aem-wrap--cta"> <div class="cta-container cta--center"> <a class="cta cta--caret cta--royal-blue t-track-cta-link" target="_self" href="/" data-bactmln="StandaloneCTA-_-CTA-_-go-to-bank-of-america-institute_/"> Go to Bank of America Institute</a> </div> </div> <div class="aem-wrap--separator"> <div 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src="/content/dam/bank-of-america-institute/consumer-morsel-drinking-trends/WEB-01-25-2572-tile-640x360.jpg" alt aria-hidden="true"/> </div> <div class="tile__body-container"> <div class="tile__lead-in header--article-tile-eyebrow header--blue ">february 2025</div> <h4 class="tile__headline header--h4 header--default-color "> Raising the bar or last call? </h4> <div class="tile__body color-default " data-props-tagging-label="Text_Link-_-Hyperlink-_-" data-props-tagging-class="t-track-text-link" data-action="text-component"><p>Inspired by social media trends or pressured by rising prices elsewhere consumers, especially Gen Z, cut back on alcohol.</p> </div> <div class="tile__metadata "> <span class="icon-communication-book" aria-hidden="true"></span> <div class="tile__metadata-text">2 min read</div> </div> </div> </div> </a> </div> <div class="aem-wrap--tile"> <a class="tile-anchor js-tile-anchor js-tile-tag-link t-track-tile-link" href="/economic-insights/sector-morsel-sports.html" 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