Household Spending Expectations Rise amidst Static Earnings Growth Prospects

Consumer expectations of household spending for the year ahead rose by 0.8 percentage point to 4.2%, according to the Federal Reserve Bank of New York press release. The growth expectations mark the second-largest month-to-month increase in the history of the series

• The earnings growth prospects were flat for the sixth consecutive month
• The mean perceived probability of losing one’s job in the next twelve months decreased for the third consecutive month. 
• Consumers also expect higher home prices for the year ahead.

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