Quarterly Report on Household Debt and Credit
Total household debt increased by $87 billion (0.6 percent) to $14.35 trillion in third quarter of 2020, more than offsetting the decline seen in the previous quarter. Mortgage originations, including refinances, maintained their upward trend as homeowners continue to take advantage of the low interest rate environment. Balances and delinquency rates across debt products remained largely stable in the third quarter.
(posted Nov 17)
SURVEY OF CONSUMER EXPECTATIONS
October Survey: Households report a decline in income and spending growth expectations, and show a mixed labor market outlook, with declines in both average job loss and job finding expectations. Median inflation expectations declined at the one-year horizon, while remaining unchanged at the three-year horizon.
(Posted Nov. 9)
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)