BofA Institute Total Card Spending (w/e May 2) +7.1% (vs +2.7% Y/Y, +4.8% Y/Y during April); Ex-gas spending +5.8% Y/Y; BofA suggests Mothers' Day could've impacted spending
The recent BofA total card spending data shows a significant year-over-year increase at +7.1%, reflecting stronger consumer activity compared to earlier months.
Chinese Outstanding Loan Growth YoY (Apr) Y/Y 5.6% vs. Exp. 5.8% (Prev. 5.7%)
Chinese M2 Money Supply YoY (Apr) Y/Y 8.6% vs. Exp. 8.5% (Prev. 8.5%)
BofA Institute Total Card Spending (w/e May 2) +7.1% (vs +2.7% Y/Y, +4.8% Y/Y during April); Ex-gas spending +5.8% Y/Y; BofA suggests Mothers' Day could've impacted spending
US Senate Banking Committee holds markup of crypto bill today, Fox's Pergram reports
[MARKET ANALYSIS] European bourses continue to rebound, NOKIA FH boosted following CSCO earnings; NVDA gains as US reportedly approves H200 chip exports to China
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The ex-gas spending uptick at +5.8% reinforces this trend, indicating solid demand possibly driven by seasonal factors like Mother's Day. This stronger spending could have positive implications for growth forecasts and consumer sentiment, potentially influencing upcoming economic data releases and policy discussions.
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