BofA card spending, week to January 24th: +6.6% Y/Y (prev. 4.6% Y/Y). Spending growth grew in groceries and general merchandise, indicative of stockpiling before the Winter storm

BofA card spending, week to January 24th: +6.6% Y/Y (prev. 4.6% Y/Y). Spending growth grew in groceries and general merchandise, indicative of stockpiling before the Winter storm.

Bank of America's weekly card spending data shows a notable increase of 6.6% year-over-year, up from 4.6% previously, indicating stronger consumer activity. This uptick, particularly in groceries and general merchandise, may suggest stockpiling behavior ahead of the winter storm, reflecting both consumer sentiment and potential inflationary pressure in the economy.