SCE CREDIT ACCESS SURVEY
The survey reveals a sharp rebound in consumer credit demand in 2021, with most credit application rates rising and returning to 2019 levels. Looking ahead, households expect they will be more likely to request credit extensions for all credit types except mortgage refinancing over the next twelve months.
(posted November 22)
Quarterly Report on Household Debt and Credit
Total household debt increased by $286 billion (1.9 percent) to reach $15.24 trillion in the third quarter of 2021. The total debt balance is now $890 billion higher than in the third quarter of 2020. New extensions of installment credit remained near series highs for both mortgages and auto loans.
(posted November 9)
SURVEY OF CONSUMER EXPECTATIONS
October Survey: The median inflation expectation remained unchanged at the three-year horizon and increased at the one-year horizon. Households’ labor market expectations improved further, as did income and spending growth expectations.
(posted November 8)
SCE PUBLIC POLICY SURVEY
August Survey: Among the findings in the latest reading of consumers’ public policy outlook—the expected likelihood of an increase in the average income tax rate over the next year increased to 53 percent, from 50 percent in April, its highest level since the start of the series in 2015.
(posted September 27)
SCE Household Spending Survey
August Survey: Median expected overall spending growth over the year ahead rose to a series high of 4.2 percent in August, up from 3.6 percent in April. The median expected spending growth on clothing jumped to 3.4 percent in August from 2.6 percent in April, also marking a series high.
(posted September 20)