Consumers' Spending Expectations Decrease in September

Americans’ expectations for how much more they will spend in the next year decreased 0.3 percentage points in September to 2.9 percent, according to the Federal Reserve Bank of New York’s monthly Survey of Consumer Expectations. The outlook for household income growth also decreased -- from 2.8 percent in August to 2.5 percent, its lowest level of the year.

Consumers’ expectations for price inflation at both the one-year and three-year horizons were unchanged at 3 percent. Uncertainty about inflation decreased slightly for both horizons compared to last month. Home price expectations remained steady in September at 3.6 percent after having declined the previous two months from a three-year high of 4.9 percent in June. Read more.