Consumers are a touch more optimistic about their household finances, expecting not only their household incomes to grow, but also their household spending, according to the results of the Federal Reserve Bank of New York’s Survey of Consumer Expectations (SCE) for February 2017. More consumers are confident they will not miss a minimum debt payment in the next three months; their expectation for more earnings, however, dipped, though remained within a range observed since August 2016.
In terms of housing, less consumers expect home prices to change—a share also remaining within range, this time observed since mid-2015. Consumers in the South and West, as well as those with a high school education or less and/or an income less than $50,000, were less likely to expect a change.
On the employment side, consumer perceptions of the likelihood of losing a job in the next year fell to its lowest level in four months. Consumer perceptions of an expanding unemployment rate also fell, to its lowest level in 19 months.
Consumer expectations concerning inflation were unchanged.
Source: Federal Reserve Bank of New York
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