SCE CREDIT ACCESS SURVEY
October Survey: Consumer credit demand declined in 2022, with most credit application rates stable or weakening. However, credit card applications were an exception. Their application rate rose to 27.1 percent, above the October 2021 level of 26.5 percent.
(posted Nov 21)
Quarterly Report on Household Debt and Credit
Total household debt increased by 2.2 percent in the third quarter to reach $16.51 trillion. Balances now stand $2.36 trillion higher than before the pandemic recession. Mortgage, credit card, and auto loan balances all increased sizably, while student loan balances decreased slightly to $1.57 trillion.
(posted Nov 15)
SURVEY OF CONSUMER EXPECTATIONS
October Survey: Inflation expectations increased in the short, medium, and longer terms. Median one- and three-year-ahead inflation expectations rose by 0.5 and 0.2 percentage point to 5.9 percent and 3.1 percent, respectively, while five-year-ahead inflation expectations climbed to 2.4 percent from 2.2 percent.
(posted Nov 14)
SCE PUBLIC POLICY SURVEY
August Survey: The perceived likelihood of an increase in housing assistance over the next twelve months fell to 35 percent, its lowest level since December 2019. Expectations for increases in Social Security and Medicare both rose, the former to a series high of 32 percent.
(posted Sept 26)
SCE Household Spending Survey
August Survey: The median reported year-over-year increase in monthly nominal household spending rose from 7.8 percent in April to 9.0 percent in August, its fifth consecutive increase since December 2020 and its highest reading since the series’ inception in December 2014.
(posted Sept 19)