Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News  >  Economy & Forex  >  All News

News : Economy & Forex
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance ProfessionalsCalendarSectors 
All NewsEconomyCurrencies / ForexCryptocurrenciesEconomic EventsPress releases

N.Y. Fed Consumer Survey Finds More Negativity About the Outlook in January

share with twitter share with LinkedIn share with facebook
share via e-mail
0
02/11/2019 | 12:13pm EST

By Michael S. Derby

Some gloom crept into the outlook for America's households last month, according to a report released by the Federal Reserve Bank of New York on Monday.

In its January Survey of Consumer Expectations, the bank found that respondents now expect rising unemployment down the road. For the fourth straight month, the survey reported expectations of higher joblessness a year from now rose, with 40.6% of respondents holding that view, from the prior month's 38.8%. The jobless rate was 4% in January, but the New York Fed report doesn't ask respondents predict the rate.

The New York Fed said that was the highest reading since March 2014, and that the increase was found broadly across age, education and income levels.

The report also found respondents saying the odds of losing a job have risen, as have the probabilities of voluntarily leaving a job and being able to find a new one.

The report also said that expectations of higher income declined slightly to 2.8% of respondents, while expectations of spending growth "decreased notably," from 3.5% of respondents, from 3% in December. The survey also said expectations of rising credit availability ebbed in January to its lowest level since October 2016.

The New York Fed's survey arrives at a time of significant uncertainty for the U.S. economic outlook. At the Fed's late January policy meeting central bankers pressed the pause button on their rate rise campaign while they wait to see how a slowing global economy and tighter financial conditions affect the U.S. Many observers believe the Fed will no longer raise rates this year, although there's little expectation right now that the U.S. is facing an outright downturn.

The New York Fed report found survey respondents' expectations of inflation remained stable at 3% both a year and three years from now. The bank noted these readings have been "very stable" over the last nine months.

Write to Michael S. Derby at michael.derby@wsj.com

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news "Economy & Forex"
06:30aEthiopia and Djibouti sign deal to build gas pipeline
RE
03:22aAPPEA AUSTRALIAN PETROLEUM PRODUCTION & EXPLORAT : Supporting exploration in the Great Australian Bight
PU
03:06aNOC NATIONAL OIL : calls for national unity on anniversary of February 17th revolution
PU
01:50aCHINA TO LURE FOREIGN INVESTMENT IN STATE GIANTS : regulator
RE
01:03aECB RATE MOVE HINGES ON DOWNTURN'S DURATION : Villeroy
RE
02/16Brexit 'airbags' being tested by business with 40 days to exit day - KPMG
RE
02/16U.S. President Trump receives update on China trade talks
RE
02/16Canadian National train derails in Manitoba, leaks oil
RE
02/16NOC NATIONAL OIL : support health and education projects in Sabratha
PU
02/16NOC NATIONAL OIL : and Repsol support sporting development in Al Ghurayfah and Bint Bayyah
PU
Latest news "Economy & Forex"
Advertisement