Chase Spending Data: Updated Through August 7, 2026

Research evidence excerpt

J P M O R G A N

North America Equity Research

17 August 2026

Chase Spending Data

Updated Through August 7, 2026

We are updating our Chase Spending data through August 7. Data are provided on a

lagged basis and presented in a rolling seven-day format.

Consumer Finance

As always, we welcome reader feedback and suggestions. We have attached a schema

of the full dataset as an appendix at the end of the note, allowing readers to see the

complete universe of available categories as well as those we have selected to

highlight in our charts and commentary. Click here for disclaimers and methodology.

(1-415) 315-6701

Key Takeaways: Total spending growth for August higher M/M vs. July. August

total spending was up ~5.6% Y/Y (through Aug 7), an acceleration compared to July’s

figure of ~4.4%. The acceleration was the result of sequentially faster Y/Y

discretionary spending growth (6.1% through Aug 7 vs. 4.4% in July), partially offset

by slightly slower Y/Y non-discretionary spending growth (4.3% through Aug 7 vs.

4.5% in July).

Total spending was up ~5.6% Y/Y MTD through Aug 7 versus the same

period in 2025, with MTD discretionary spending growth of 6.1% running

above MTD non-discretionary spending growth of 4.3% (Fig. 12).

Total spending excluding gas stations was up 5.1% MTD through Aug 7

(Fig. 19). MTD Y/Y growth was higher vs. Y/Y growth in July (4.0% y/y).

Total spending was up ~3.93% for the trailing 12M ended Aug 7 (Fig. 1).

Total spending excluding gas was up 3.94% for the trailing 12M ended Aug 7

(Fig. 2).

Upper Income spending was up ~6.9% MTD in August versus the same

period in 2025. Spending growth across all income cohorts was faster

compared to the prior month, with Upper Income spending accelerating to

6.9% (from 5.7%), Middle Income spending accelerating to 7.7% (from 6.2%),

and Lower Income spending accelerating to 5.1% (from 4.3%) (Fig. 4).

Gen Z and Millennial spending was up ~8.8% MTD in August versus the

same period in 2025. This cohort continues to drive spending growth,

outperforming the overall average and August y/y growth in Gen X and Baby

Boomers at 3.7% and 2.0%, respectively (Fig. 13). We note that the relative

…