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Amid the COVID-19 Outbreak, Consumers Temper Spending Outlook

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Abstract

The New York Fed’s Center for Microeconomic Data released results today from its April 2020 SCE Household Spending Survey, which provides information on consumers' experiences and expectations regarding household spending. These data have been collected every four months since December 2014 as part of our Survey of Consumer Expectations (SCE). Given the ongoing COVID-19 outbreak, the April survey, which was fielded between April 2 and 30, unsurprisingly shows a number of sharp changes in consumers’ spending behavior and outlook, which we review in this post.

Suggested Citation

  • Gizem Koşar & Kyle Smith & Wilbert Van der Klaauw, 2020. "Amid the COVID-19 Outbreak, Consumers Temper Spending Outlook," Liberty Street Economics 20200507b, Federal Reserve Bank of New York.
    • Handle: RePEc:fip:fednls:87919
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    More about this item

    Keywords

    COVID-19; pandemic; expectations; household spending;
    All these keywords.

    JEL classification:

    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance

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