Bloomberg Surveillance · Thursday, July 16, 2026
Despite widespread consumer concerns about the economic outlook, Bank of America data shows robust spending, with money moving out of customer accounts at a high rate. This counterintuitive behavior suggests that underlying business conditions are strong enough to maintain momentum.
“But I think you know so an interesting question is right now is that you know, if you there's this, saye do paradoxes as high as ever been. If you read the consumer surveys, it says I'm worried about in a listed out look what you just saw in retail sales. In the month of June, the money moving out of the Bank America customer accounts was seven percent high sixes and in July it was the same strength.”
“That's a strong that was in May and April, in March. That is counterintuitive to what the people are So people are upset about high gas prices, are upset about affordability. That's a fact that that's a fact that may change your behavior. Right now, the behavior hasn't changed.”
“And I think that's sort of a parallel to all the things about policy. People talk about it and think about it, but if the underline business conditions are fine, they just go to work and get through it.”