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Why Has Consumer Spending Remained So Resilient? Evidence from Credit Card Data
Abstract: Credit card data indicate that since 2022, spending by higher-income consumers has remained resilient and has been driving the growth in aggregate spending. By contrast, spending growth of low-income consumers has not been as strong.
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https://www.bostonfed.org/publications/current-policy-perspectives/2025/why-has-consumer-spending-remained-resilient.aspx
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https://www.bostonfed.org/-/media/Documents/Workingpapers/PDF/2025/cpp-20250813.pdf
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Provider: Federal Reserve Bank of Boston
Part of Series: Current Policy Perspectives
Publication Date: 2025-08-13
Number: 2025-10