After a three-month downtrend, Americans’ confidence in the growth of their household income has rebounded, according to the Federal Reserve Bank of New York’s June Survey of Consumer Expectations (SCE). With affordability challenging the housing market, the expectation of growing incomes can offer relief.
Among the economic indicators surveyed, consumers expect a 3.9 percent change in home prices, and the median inflation rate to be 3 percent in one year, as well as in three years. Based on consumer perceptions, the likelihood of finding a job is at 58.6 percent, which is a decline from the month prior.
Source: Federal Reserve Bank of New York
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