New Siena Research Poll Says Consumer Confidence Is Up
Loudonville, NY (WIBX) - A new Siena Research Poll measuring consumer confidence is offering hope for New York's economy.
Consumer confidence is up across the board, according to the study measuring people's willingness to spend money.
Douglas Lonnstrom, the founding director of the Siena College Research Institute, said intentions to buy big ticket items, including cars and home improvements have rallied.
But, Lonnstrom also said the variables regarding consumer confidence are fickle.
"In New York State, our confidence has gone up three months in a row," Lonnstrom said. "Am I willing to say it's going to go up for the next six months? I really can't do that, depends what will happen. It's really going to depend so much on what happens to the economy. If we get jobs, if we get some turnaround in the housing market, you'll see consumer confidence shoot way up. We've been up over 100 [points] at times, but not recently.
Among the groups showing more buying confidence in New York - Democrats, younger people and New York City residents.
A detailed report outlining the nine major regions in the state will be released in April.