BofA Consumer Checkpoint: W/e January 31st total card spending -3.2% Y/Y (vs. prior week +6.6% Y/Y) and the slowdown was most likely due to Winter Storm Fern

BofA Consumer Checkpoint: W/e January 31st total card spending -3.2% Y/Y (vs. prior week +6.6% Y/Y) and the slowdown was most likely due to Winter Storm Fern.

The BofA Consumer Checkpoint indicates a significant year-over-year decline in total card spending of 3.2%, contrasting sharply with the previous week's growth of 6.6%. This slowdown is likely linked to Winter Storm Fern, suggesting weather-related disruptions in consumer activity that might temper expectations for retail performance in the short term, impacting outlooks for economic growth and consumer spending trends.