BofA Sees "Just" Better-Than-Expected Retail Sales Tomorrow Despite Weak Online Sales & Seasonal Shenanigans, But...

Having been almost infallible in their over/under forecasts for retail sales this year, it's always useful to know what BofA's Global Research group thinks ahead of tomorrow's spending data.

Total card spending per household (HH), as measured by BAC aggregated credit and debit cards, was up 1.0% year-over-year (y/y) in April. Card spending per HH was up a robust 1.3% month-over-month (m/m) in April on a seasonally adjusted (SA) basis.

Many sectors saw large monthly increases in SA card spending in April.