BofA card spending, week to Feb 28th: +1.8% (prev. 4.4% W/W), slowdown driven by the Northeast is which spending fell sharply due to the second snowstorm

BofA card spending, week to Feb 28th: +1.8% (prev. 4.4% W/W), slowdown driven by the Northeast is which spending fell sharply due to the second snowstorm.

The latest Bank of America card spending data shows a notable slowdown, with a week-on-week increase of 1.8%, down from 4.4% previously. This dip, primarily driven by a sharp decline in spending in the Northeast due to weather disruptions, could suggest weakening consumer momentum, raising potential concerns for growth expectations going forward.