Business

Economic Slump Puzzles Bank of America

Updated 2026-05-08 10:30 UTC 1 source Neutral

Bank of America is uncertain about the cause of a sudden slump in U.S. spending, as indicated by credit- and debit-card usage data from its customers.

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MarketWatch

Spending in the U.S. just slumped, and Bank of America isn’t sure why

Something funny just happened in the U.S. economy, according to Bank of America after the nation’s number-two bank looked at credit- and debit-card use by its customers.

2026-05-08 10:24 UTC