Institute Insights — 10-11-2026

Summary

• Bank of America Institute launched Business Checkpoint, expanding coverage from firms with under $5 million in annual revenue to those with under $50 million.
• Small business profitability growth has outpaced mid-sized firms since May, while hiring-related payments have improved.
• Mid-sized firms experienced stronger payroll growth in August despite weaker employment gains.
• AI-related spending growth reached approximately 20% year-over-year across both small and mid-sized businesses.
• Bank of America aggregated credit and debit card spending per household rose 6.2% year-over-year in September, or 5.1% excluding gasoline.
• Spending growth in September represented the third strongest rate over the past four years across discretionary retail, services, and income cohorts.
• Buy now, pay later usage continues to rise without reaching an overly concerning rate.
• Lower-income households saw wage growth ease slightly to 4.5% year-over-year in September while maintaining the strongest wage growth among cohorts.
• The share of Americans over 60 rose nearly 10 percentage points from 1995 to 2025 and is projected to approach 30% by 2055.
• Adults over 65 spend about 2.5 fewer hours working and two more hours on leisure daily than adults overall.
• Older adults allocate relatively more card spending to groceries and travel compared to the general population.
• Hobby spending rose 7.9% year-over-year in August, exceeding the pace of transaction growth.
• Older Millennials are the largest hobby spenders despite having the least leisure time.
• Gen Z hobby purchases slowed sharply, though gaming remains significant with more than a quarter spending on online or video games.
• The nuclear energy industry includes proven large-scale reactors, small modular reactors, and microreactors for flexible applications.
• Future nuclear energy deployment depends on supply chains, fuel availability, and regulatory approvals.