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New York Fed Survey Provides Insight into Americans’ Views on Economic Issues
January 13, 2014
NEW YORK—The Federal Reserve Bank of New York today launched its monthly Survey of Consumer Expectations (SCE), which contains insight into Americans’ views on inflation, prices, the labor market and household finances. The just released survey for December 2013 shows that consumer expectations for overall inflation and home prices remained stable in recent months. Median earnings and household income growth expectations have remained steady and perceptions of credit access have improved slightly.
A series of interactive charts depicting survey results is available in the Center for Microeconomic Data on the New York Fed’s website. Other findings from the survey include:
Going forward, survey results are scheduled for release at 11 a.m. EST on the second Monday of each month. Expectations are also available by age, income, education, numeracy and geography.
About the Survey of Consumer Expectations
The SCE contains information about how consumers expect overall inflation and prices for food, gas, housing and education to behave. It also provides insight into Americans’ views about job prospects and earnings growth and their expectations about future spending and access to credit. The SCE also provides measures of uncertainty in expectations for the main outcomes of interest. Expectations are also available by age, geography, income, education and numeracy.
The SCE is a nationally representative, internet-based survey of a rotating panel of approximately 1,200 household heads. Respondents participate in the panel for up to twelve months, with a roughly equal number rotating in and out of the panel each month. Unlike comparable surveys based on repeated cross-sections with a different set of respondents in each wave, our panel allows us to observe the changes in expectations and behavior of the same individuals over time.
The survey is conducted on our behalf by The Demand Institute, a non-profit organization jointly operated by The Conference Board and Nielsen. The sampling frame for the SCE is based on that used for The Conference Board’s Consumer Confidence Survey (CCS). Respondents to the CCS, itself based on a representative national sample drawn from mailing addresses, are invited to join the SCE internet panel.