SURVEY OF CONSUMER EXPECTATIONS
September Survey: Respondents’ expectations regarding the labor market and spending showed some improvement. Also pessimism about their year-ahead financial situations ebbed. Home price growth expectations returned to their pre-COVID-19 levels, and debt delinquency expectations remained low. Still, year-ahead household income expectations remain weak compared with the
(Posted Oct. 13)
SCE Household Spending Survey
The median year-over-year change in monthly household spending increased to 1.9 percent in August 2020, up from 1.0 percent in April. The increase was driven by respondents without a college degree, with spending growth for those with a college degree remaining subdued at only 0.6 percent. The median expected growth in everyday essential spending rose to a new series high, with the median growth expectations for non-essential spending and year-ahead overall monthly spending also increasing significantly.
(posted Sep 28)
Quarterly Report on Household Debt and Credit
Total household debt decreased by $34 billion (0.2 percent) to $14.27 trillion, in the second quarter of 2020. This marks the first decline since the second quarter of 2014. Credit card balances fell by $76 billion, reflecting the sharp decline in overall consumer spending due to the COVID-19 pandemic. In total, non-housing balances (including credit card, auto loan, student loan, and other debts) saw the largest drop in the history of this report, with an $86 billion decline.
(posted Aug 6)