US Consumers Forecast More Spending

US Consumers Forecast More Spending

US consumers expect to spend more money in Y 2019 than they did a year ago, data from the Federal Reserve Bank of New York revealed in a report Tuesday.

Households expect larger increases in spending than they forecast the year prior on items including clothing, housing and transportation, data from the Survey of Consumer Expectations conducted in December showed. People with a high school education or less, in particular, drove the increase, the New York Fed said.

The average expected growth in spending in 2019 rose to 2.8% from 2.3% the year prior, according to the survey.

Stay tuned…

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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