State of the US consumer: August 2026

Spending intentions are on the rise for both nondiscretionary and discretionary categories in August

• Financial well-being held steady for the third consecutive month, and remains well above year-ago levels (figure 1).
• Price expectations continue to fluctuate, with sharp month-to-month swings replacing any settled outlook (figure 2).
• While nondiscretionary spending intent rose in August, the simultaneous rise in discretionary categories appears to signal consumer resilience more than strain (figure 3).
• After a period of sideways movement, spending intentions for key essential categories resumed their uptrend, particularly for healthcare (figure 4).