Bank of America Consumer Checkpoint says total credit and debit card spending +1.8% Y/Y in December (vs 1.3% in November); seasonally-adjusted spending growth +0.5% M/M

Bank of America Consumer Checkpoint says total credit and debit card spending +1.8% Y/Y in December (vs 1.3% in November); seasonally-adjusted spending growth +0.5% M/M.

The latest data from Bank of America's Consumer Checkpoint shows a year-over-year increase in total credit and debit card spending of 1.8% in December, up from 1.3% in November, suggesting a slight acceleration in consumer spending. The seasonally adjusted month-over-month growth of 0.5% reinforces this trend, implying steady consumer demand that could support the economic outlook and influence potential monetary policy decisions moving forward.