The American consumer is feeling increasingly optimistic
The American consumer is starting to feel better.
One of the questions on the New York Fed's monthly Survey of Consumer Expectations asks respondents how they expect their household spending to change over the next year. This has been a very jumpy indicator over the last several months, with expectations plummeting in February, spiking back up in March, and then falling to a new low in April.May saw a small uptick in household growth expectations, and now the new report from June shows that upswing continuing. As of last month, the median household expected to increase spending 4.29% in the next year.
Having an idea of what consumers are thinking is useful in the context of the upcoming report on June retail sales, scheduled to be released Tuesday morning. Retail sales saw some weakness in the early spring, just like the New York Fed's consumer expectations survey, but then bounced back in May.
- The decision not to have a kid is personal — but the social pressure against the choice is all-pervasive
- K'taka budget will focus on welfare of women & their development: CM
- Global consumer spending on apps to reach $270 billion annually by 2025
- Farmers announce series of Mahapanchayats in March
- Huawei aims to make electric cars later this year