Midwestern Economic Trends and Consumer Spending Analysis

This report presents an analysis of economic trends and consumer spending in the Midwest, based on aggregated data from Bank of America. It outlines the recent growth in credit and debit card spending per household, which has increased by 2.2% year-over-year in October 2025, marking a significant recovery since June. The report attributes this improvement to stronger wage growth and affordability in housing, noting that median rents in major Midwestern cities remain below the national median. Additionally, it highlights the Midwest's potential for attracting investments in mega projects due to favorable land costs and power availability. Despite a decrease in manufacturing activity and challenges for small businesses, the overall labor market in the Midwest remains resilient, with a slower growth rate in unemployment payments compared to other regions. The report concludes with a mixed outlook for the Midwest, emphasizing both opportunities and risks in the economic landscape.