# Fed Finds Consumer Spending Holding as Confidence Slips

> Consumer spending holds steady as confidence drops, high-income households drive spending despite financial strain.
- Title: Fed Finds Consumer Spending Holding as Confidence Slips
- Summary: Consumer spending holds steady as confidence drops, high-income households drive spending despite financial strain. The Fed's Beige Book shows consumer…
- Keywords: federal reserve, consumer spending, confidence, high-income households, savings, pymnts intelligence, beige book, business, finance, Fed, Finds, Consumer
- Source: Pymnts — https://pymnts.com/consumer-insights/2026/federal-reserve-finds-consumer-spending-holding-confidence-slips
- Author: PYMNTS
- Published: 2026-10-14T21:18:18+00:00
- Read time: 1 min
- Topics: federal reserve, consumer spending, confidence, high-income households, savings, pymnts intelligence, beige book, business, finance
## Federal Reserve Beige Book
The Federal Reserve’s October Beige Book found economic activity increased in nine of its 12 districts.
## Consumer Spending Holds Steady
Most districts reported little or no change in consumer spending, with five of six auto sales districts showing flat to modestly lower sales.
## High-Income Households Drive Spending
More than half of districts reported consumer spending being driven by high-income households.
## Consumer Confidence Drops
The PYMNTS Consumer Expectations Index fell 0.7 points to 54.1, its second consecutive monthly decline.
## Savings Cover Less Than Three Months
51.8% of consumers said their savings would support their current lifestyle for three months or less if income stopped.
## Financial Resilience Weakens
The Personal Financial Resilience subindex, including savings, debt, and day-to-day money management, remained nearly unchanged.
## Economic Conditions Deteriorate
The Macroeconomic and Buying Climate subindex fell 2.2 points to 45, indicating declining confidence in economic conditions.
## Key takeaway

The Fed's Beige Book shows consumer spending remains stable but confidence declines, with high-income households driving spending while many report savings covering less than three months.