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Below are key highlights from the  September 2018 Survey of Consumer Expectations report released by the Federal Reserve Bank of New York’s Center for Microeconomic Data.

  • Median inflation expectations at both the one-year and three-year horizons remained stable in September at 3.0%.  
  • Median one-year-ahead earnings growth expectations increased 0.3 percentage points in September to 2.8%, the series’ all-time high.
  • Mean unemployment expectations decreased 1.2 percentage points to 34.1% in September.
  • Median expected household income growth decreased 0.3 percentage points in September to 2.5%, its lowest level of the year.
  • Median household spending growth expectations declined for the third month in a row, from 3.2% in August to 2.9% in September.