The Federal Reserve Bank of New York's Center for Microeconomic Data released the December 2020 z sce_spending.png The survey shows a continuation of relatively modest monthly household spending growth compared to pre-pandemic levels. While the share of respondents who reported making a large purchase during the past four months has increased for most spending categories since April 2020, the share reporting spending on vacations dropped further to a new series' low. Year-ahead total household spending growth expectations instead rose sharply, continuing its rebound from the steep decline in spending expectations measured in April. Similarly, median year-ahead expected growth in non-essential and essential household spending both rose to new series highs. Expected spending responses to an unexpected 10% increase in income shows an average 36.3% would be used to pay down debt, 44.5% would be saved or invested, and 19.3% would be spent or donated.