WGXC-90.7 FM

New York consumers optimistic, poll says

Jan 04, 2023 1:03 pm

Larry Rulison reports for the Times Union that New York consumers are becoming more optimistic about their spending plans according to the latest Siena College consumer sentiment poll. The New York State Index of Consumer Sentiment was at 72.3 points in the poll, up 1.5 points since the third quarter of 2022. Upstate, that number is only 65, but that is still higher than the rest of the country, which is at 59.7 points. “Both New York’s and the nation’s consumer sentiment picked up ever so slightly over the fourth quarter with New York’s index continuing to outpace the country’s by nearly 13 points," said Don Levy, the director of the Siena College Research Institute. "While Democrats and New York City residents record scores that display more optimism than pessimism, the largest increases in sentiment this quarter were among Republicans – up nearly 8 points – and upstaters – up over 6 points." The poll shows that demand for cars and trucks is up, despite high costs and low inventory. But 64 percent of upstate residents are still worried about food and gas prices, above the statewide average of 62 percent, the poll found. Read the full story in the Times Union.