NY Fed: Consumers Anticipate Higher Spending Growth, Lower Income

Americans’ expectations for how much more they will spend in the next year rose in September to 3.7 percent from 3.3 percent in August, according to the Federal Reserve Bank of New York’s monthly Survey of Consumer Expectations. The outlook for household income growth fell, however, landing at 2.9 percent, down slightly from August’s figure. Credit availability expectations also improved in September.

Consumer said they expected levels of price inflation over the next year to decline, with median expected inflation one year ahead falling to 2.5 percent from 2.8 percent in August. Home price growth expectations in September also fell from 3.3 percent to 3.1 percent.