Consumer Confidence Up Again In March
Loudonville, NY (WIBX) – Consumers are starting to feel better about the economy, according to a new consumer confidence poll from the Siena Research Institute.
According to Don Levy, with the Siena Research Institute, New York gained 1.5 points in March, hovering around the breakeven point where optimism and pessimism are equal. But, he says there is still more to do.
“It doesn’t mean that happy days are here again,” Levy said. “It doesn’t mean that people feel like all our problems are solved. What it means is we’re back to a breakeven point across the state, which is a far stronger, far healthier economic place to be than we’ve been in a long time.”
Levy says New York’s consumers are more willing to spend money for computers and home improvements, but less so for furniture, cars and new homes.
Gas prices are also projected to play a role in the outcome of future consumer confidence polls, as 64 percent of New Yorkers believe higher prices have had a serious impact on their finances.