Consumer Sentiment Declines In Most Areas Of NYS
A new survey on consumer sentiment in New York State shows that in the fourth quarter, it fell in all regions of the state except for Long Island, where it held steady. According to the Siena Research Institute, which did the poll, the consumer sentiment index in the Rochester area fell 10 percent compared to the year before .
Poll Director Don Levy says a lot of New Yorkers are not that worried about where they are right now, but they are worried about what lies ahead.
“People are saying ‘I’m holding steady, I’m ok, but you know what, I don’t feel as good about the future as I did a year ago. ‘ So what we’re seeing is a continuing sort of economic treading water, a continuing stalemate.”
Levy says factors behind the decline in consumer sentiment may be related partly to concerns about the increased cost of health care.
Even with the overall decline in consumer sentiment around the state, the polls shows that a lot of people are still interested in buying certain big ticket items, particularly homes.