NY Fed Survey: Outlook improves for earnings, income, and spending growth
"The latest SCE results show an increase in wage growth expectations and a decline in unemployment expectations," the Federal Reserve Bank of New York announced on Monday.
Median inflation expectations were unchanged at both the three-year (at 2.8%), and the one-year (at 2.6%) horizons.
Median home price change expectations increased from 3.0% in October to 3.3% in November, exceeding its trailing 12-month average of 3.2%.
Median one-year ahead earnings growth expectations rebounded from 2.1% in October to 2.6% in November, back to its level from July of this year.
Mean unemployment expectations—or the mean probability that the U.S. unemployment rate will be higher one year from now—retreated from 36.0% in October to 33.7% in November.
Median expected household income growth increased from 2.6% in October to 3.0% in November.