Consumer confidence has dropped and food and gas prices stillhave a major impact on New Yorkers, according to a poll released bythe Siena Research Institute on Tuesday.
New York’s consumer confidence index for June was 64.9, down 2.7points from May’s levels but up 1.5 points from June 2010.Nationally, the consumer confidence index was 71.5.
“Despite a banner month for Gov. Cuomo, New Yorkers put theirtrumpets down when it came to the economy,” Doug Lonnstrom,professor of statistics and finance at Siena College and SRI’sfounding director, said in a statement. “Overall confidence fellacross the state as a whole by almost three points and droppedamong every single demographic of state residents.”
Consumer confidence among Democrats, higher income residents,New Yorkers under 55, metro New York City residents and men ishigher than numbers for lower income residents and Republicans,residents ages 55 and up, upstate New Yorkers and women.
The consumer confidence has dropped dramatically since thebeginning of 2011. in January, according to the Siena poll, theoverall consumer confidence index was 76.5 — the highest level in athree-year period. The consumer confidence index has dropped nearly12 points in six months.
Food and gas prices also concern New Yorkers. Two-thirds ofthose surveyed said gas prices have a very serious or somewhatserious impact on their finances, while 71 percent said the cost ofgroceries have a similar impact. more than half of New Yorkresidents — 55 percent — said both food and gas prices have asomewhat or very serious impact on their financial state.
