- The median reported year-over-year change in monthly household spending increased to 7.8 percent in April from 5.1 percent in December, its highest reading since the beginning of the series in December 2014.
- The share of households that reported making a large purchase over the past four months increased from to 61.6 percent in April from 58 percent in December. The shares that reported making a large purchase on home repairs, vacations, homes, and vehicles all increased in April.
- Median expected growth in total monthly spending over the next twelve months rose from 4.6 percent in December to 5.4 percent in April, its highest value since the start of the series in August 2015. The increase was most pronounced for those with annual household incomes above $100K.
- The median expected year-ahead growth in everyday essential spending (that is, daily living expenses related to what one absolutely needs) increased from 5.4 percent in December to 7.5 percent in April, its highest reading since the beginning of the series in August 2015. The median expected growth in nonessential spending remained unchanged at 2.5 percent in April.
- The average reported likelihood of making a large purchase over the next four months increased in April for vacations, home repairs, home appliances, furniture, and vehicles.
The SCE Household Spending Survey is fielded every four months as a rotating module of the Survey of Consumer Expectations (SCE). The data are updated online as results come in, and an annual New York Fed press release, issued following the December survey, highlights notable changes and trends.