Monday, December 23, 2024

New York Fed's Latest Survey Reveals Mixed Feelings on Economy and Personal Finances

2024-04-09  |  consumers economy 

... blic's economic outlook. The survey reveals steady short-term inflation expectations but shows variation at medium and long-term horizons, alongside mixed labor market sentiments and concerns over household finances.Inflation expectations for the coming year remained static at 3.0% for the third month in a row, indicating a stable outlook among consumers. However, expectations for three years ahead saw a slight increase, while those for five years ahead dipped, suggesting a changing perspective on the economy's direction. The survey also reported a rise in the expected costs of essential goods...

Black Consumers Remain Optimistic About Their Financial Health

2024-02-15  |  consumers economy 

... re optimistic about their income and earning potential in the year ahead, paying off debt and managing the impacts of inflation on household finances continue to be major financial concerns," said Achieve Co-Founder and Co-CEO Brad Stroh. "In addition, those surveyed expect to see more increases in the costs of groceries in the coming year, adding to budgeting challenges."Rising cost of groceries and utility costs force cuts elsewhereNearly half of respondents (47%) believe their household will have to spend more to buy groceries this year, while 40% expect their utility costs will increase an...

COVID-19 Has Exacerbated Economic Inequality in the U.S.

2021-04-15 12:00:01  |  pandemic retirement 

...  their finances will continue to worsen over the next year. Meanwhile, 61% of those who say they are financially better off since the start of the pandemic expect their household finances to improve in the next year. Of those surveyed, adults between the ages of 45 to 64 were much more likely to say they are worse off because of the pandemic, compared to those under age 45. Nearly 40% of those between the ages of 45 to 64 say they are worse off financially this year compared to last year, while only about one quarter of those under age 45 say they are worse off due to COVID-19. "Across ne...

Global Consumer Confidence Improved in Fourth Quarter

2021-01-13  |  global confidence 

... struggle to control the pandemic may be a downside risk to further gains in consumer confidence. Latin America: In Q4, Latin America recovered about three-quarters of the fall in consumer confidence that occurred in Q2—the same as North America and significantly more than other regions. Greater optimism about personal finances drove the recovery. As a percentage of GDP, the fiscal policy response of key emerging markets in the region is on par with that of some advanced economies, providing much needed income support to Latin American workers and households. Yet with broad vaccinati...

Consumer Expectations about Household Finances Weaken

2020-11-09  |  inflation financial situation 

... t of a college education declined from 5.2% to 4.9% in October. Median expectations for the cost of rent and medical care both increased from 5.4% and 6.8% to 5.7% and 9.1% in October, respectively. ...

Consumer Expectations Plateaued in July

2020-08-10  |  inflation household finances 

... ns for a one-year time horizon, increasing from 2.7% in June to 2.9% in July, above its 12 month trailing average of 2.5%. Consumers continue to relatively pessimistic about their household finances with median expected household income growth remained steady at 2.1% in July for the second consecutive month, which is well below its 2019 average of 2.8%. One-year ahead expectations about households' financial situations deteriorated with more respondents expecting their financial situation to worsen and fewer expecting it to improve. Both perceptions and expectations of financial condition...