SFA Research Corner: Households Expect To Spend More in 2021
Provided by Structured Finance Association
The Federal Reserve Bank of New York’s Household Spending Survey reports that households expect their spending to grow by 3% in 2021, a sharp increase over the 2.2% reported August 2020 and the 2.4% in December 2019. The increase was broad based across education and income group. While this is welcome news for the economy, the outlook for certain business sectors will still depend on the course of the virus.