NY Fed Survey of Consumer Expectations

The Federal Reserve Bank of New York released its Survey of Consumer Expectations for September 2024. Consumers have a more positive outlook about their financial situation a year from now, however they remain less hopeful about their ability to obtain credit in the future.

 

Household financial situation: Compared to a year ago, 37% of consumers feel their financial situation has worsened while 20% feel they are in a much better position. A year from now, 31% of consumers project that their household financial situation will improve, 44% of consumers think the situation will remain the same, and 24% feel it will worsen. This expectation aligns with trends from previous months.

 

Credit availability: Consumers have a more pessimistic outlook on credit availability, with 47% of consumers believing it will be harder to obtain credit a year from now. About 41% of consumers think credit availability will be about the same, and 12% of consumers expect it will improve.

 

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