“Barbie” and “Oppenheimer” have been such blockbuster movies that their impact appears to be showing up in economic statistics. Bank of America cardholders increased their non-gasoline spending by 1.9% year over year during the week ending July 22, the bank said Thursday. That is a significant acceleration from the week of July 15, when entertainment spending was up 4.9%. Earlier in July, entertainment spending was flat to down compared with the year before, according to Bank of America. Federal Reserve Chair Jerome Powell was even asked on Wednesday about how demand for “Barbie” and Taylor Swift concerts is impacting the broader economy.

Source: CNN July 27, 2023 19:38 UTC