posted on 09 February 2015
from the New York Fed
The Federal Reserve Bank of New York today released results from its January 2015 Survey of Consumer Expectations (SCE), which provides insight into Americans' views on inflation, prices, the labor market and household finance. Median consumer inflation expectations were largely unchanged at both the one-year and the three-year ahead horizons at 2.9 percent and 3.0 percent, respectively. Median household spending growth expectations retreated significantly from the last month. The mean perceived probability of finding a job in the next three months (if one were to lose one's current job) continued to increase.
Additional results from January 2015 include:
About the Survey of Consumer Expectations
The SCE contains information about how consumers expect overall inflation and prices for food, gas, housing and education to behave. It also provides insight into Americans' views about job prospects and earnings growth and their expectations about future spending and access to credit. The SCE also provides measures of uncertainty in expectations for the main outcomes of interest. Expectations are also available by age, geography, income, education and numeracy.
The SCE is a nationally representative, internet-based survey of a rotating panel of approximately 1,200 household heads. Respondents participate in the panel for up to twelve months, with a roughly equal number rotating in and out of the panel each month. Unlike comparable surveys based on repeated cross-sections with a different set of respondents in each wave, our panel allows us to observe the changes in expectations and behavior of the same individuals over time.
The survey is conducted on our behalf by The Demand Institute, a non-profit organization jointly operated by The Conference Board and Nielsen.
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