“The Federal Reserve Bank of New York’s Center for Microeconomic Data released the October 2018 Survey of Consumer Expectations, which shows that households’ expectations about income and spending growth improved notably,” NY Fed said on Tuesday.
Key quotes
- Consumers continue to lower their home price growth expectations. Short- and medium-term inflation expectations were unchanged.
- Median inflation expectations at both the one-year and three-year horizons were unchanged at 3.0% in October.
- Inflation expectations at both horizons have been very stable over the past 6 months.
- Median one-year ahead earnings growth expectations fell from 2.8% in September to 2.5% in October, just below its trailing 12-month average of 2.6%.
- Mean unemployment expectations increased 1.1 percentage points to 35.1% in October.
- Median expected household income growth increased notably from 2.5% in September to 2.9% in October.
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