The latest survey on consumer sentiment among New Yorkers shows that index is relatively stable, and the numbers are certainly better than the nation as a whole.
That’s according to Don Levy, Director of the Siena College Research Institute.
He said that consumer sentiment in New York is several points better than the national average. Levy said one reason for that may be related to politics, since, in New York state, Democrats were much more optimistic about their personal financial situation than Republicans.
And Levy noted that New York is a heavily Democratic state, which contrasts with the political divide on a nationwide basis.
When considering the way New Yorkers feel about their financial future, Levy said the poll shows they are slightly more optimistic, than pessimistic.
“When we look to the future, it increased by half a point, so, not a big increase,” said Levy. “But there is still a sense of belief, when you consider all New Yorkers, that things are going to get better for them individually and for the economy as a whole when they look to the future.”
However even with that optimism, Levy said there is still a lot of concern about the cost of living, including food and gasoline prices.
“And then you look at things like housing costs, utilities, two-thirds or more of New Yorkers continue to say that those everyday costs that every single one of us face are taking a toll,” noted Levy.
Levy said even with those concerns about inflation, the latest index does show New Yorkers are still pretty bullish on making some big ticket purchases, including cars and trucks, where about 1 in 5 New Yorkers are looking to make a vehicle purchase in the next 6 months.
