How women’s dollars are driving the US economy

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How women’s dollars are driving the US economy

Bank of America (BAC) Institute economist Taylor Bowley joins Wealth to explore recent consumer spending trends, focusing on women’s economic impact.

According to Bowley, women’s discretionary spending has outpaced men’s by 20 basis points over the past two years, enabling women to “help support a lot of the economic growth over the last few years.” She attributes this trend partly to the narrowing gender pay gap.

She notes that experience-based sectors are currently seeing the strongest growth, with travel and events leading the way. Bowley also explains that continued spending growth, employment income growth, and higher education are crucial for this economic trend to remain consistent long term.

To watch more expert insights and analysis on the latest market action, check out more Wealth here.

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