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. 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.