Americans Scale Up Spending Plans for 2021, Fed Survey Shows

Americans are scaling up spending plans for the year ahead, according to a Federal Reserve Bank of New York survey.

U.S. households in November expected their spending to rise 3.7% over the next 12 months, results from the New York Fed’s monthly Survey of Consumers published Monday showed. That compared to a 3% increase expected the prior month and marked the biggest expected increase in spending recorded in the survey since 2016.