EY-Parthenon survey finds stable consumer sentiment despite ongoing financial pressure and spending trade-offs

More than half of Americans (54%) did not save any money in June, while approximately one in five households spent more than they earned, underscoring that many households are operating without a meaningful financial cushion.

NEW YORK, August 10, 2026 – Today, EY-Parthenon practice released Wave 6 of its Consumer Sentiment Survey, showing consumer sentiment remains soft but stable month over month as many households continue to make spending trade-offs in lieu of stronger household finances. 

More than half (54%) of Americans reported saving no money last month, while one in five households spent more than they earned and relied on savings or debt to help cover expenses. At the same time, nearly three quarters of consumers (72%) continue to identify discretionary categories such as dining, beauty and personal care, and apparel as areas where spending can still be reduced if needed, providing another lever to pull as they navigate tighter budgets.

“Consumers continue to project relative resilience, but the underlying data suggests many households are maintaining stability through spending trade-offs, delayed purchases, and the use of savings or debt,” said Mark Chambers, EY Americas Retail Sector Leader.

Key findings from Wave 6 of the EY-Parthenon Consumer Sentiment Survey include:

• Stay-cations persist into summer months: One in three (32%) consumers continue to pull back on travel and entertainment, including 22% changing travel plans and 20% canceling travel plans, in line with April pullbacks tied to spring break.
• Financial strain extends beyond lower-income consumers: Approximately 20% of households were unable to cover monthly expenses with their income, including roughly one-quarter of high-income households.
• No relief for consumers as inflation and geopolitical conflict persists: Inflation, domestic politics and geopolitical conflicts have remained among consumers’ most significant sources of stress for the past year, with little evidence of relief despite shifting headlines and economic conditions.
• Transportation concerns eased from April highs: Consumers are optimistic about fuel costs declining over the next year, especially after gas prices moderated in June.
• Consumers still feel they have room to cut discretionary spend: Approximately 72% of consumers say they still have room to pull back dining, beauty and personal care, and apparel spending without meaningfully affecting their day-to-day lives, highlighting discretionary spending as an ongoing pressure valve for household budgets.

“More than half of consumers report saving nothing, and one in five households are spending beyond their income,” said Will Auchincloss, EY-Parthenon Americas Retail Sector Leader. “For retailers, demand remains intact but increasingly selective, making value, affordability and clear differentiation more important than ever.”

Learn more about the EY-Parthenon Consumer Sentiment Survey at Consumer Sentiment Survey | EY - US

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Methodology

Wave 6 of the EY-Parthenon US Consumer Sentiment Survey includes responses from 1,500 US consumers, reflecting a broad cross-section of the general population. Survey topics include personal financial confidence, spending and savings behavior, category-level spending trends, retail traffic, channel preferences, AI usage and broader macroeconomic sentiment. The survey is conducted bimonthly; Wave 6 was conducted in June 2026 among 1,509 respondents representing a broad cross-section of the US population.