Consumers Expect to Spend Less Over Next Year

(NEW YORK CITY, NY) Americans’ expectations for how much more they will spend in the next year was lower in June according to the Federal Reserve Bank of New York’s monthly Survey of Consumer Expectations. The outlook for household income growth however ticked up slightly. Consumers’ expectations for price inflation at the one-year horizon increased by a small margin and at the three-year horizon even less. At the same time, expectations for how much home prices will rise held steady for the seventh consecutive month.