‘Tepid’ consumer sentiment warming in New York

New York News
A sign for Wall Street hangs in front of the New York Stock Exchange, July 8, 2021. (AP / Mark Lennihan)

A sign for Wall Street hangs in front of the New York Stock Exchange, July 8, 2021. (AP / Mark Lennihan)

LOUDONVILLE, N.Y. (WIVT) — According to the Siena College Research Institute, the New York State Index of Consumer Sentiment is up 1.2 points from the last measurement in the third quarter of 2021. Now standing at 73.1, New York’s overall Index of Consumer Sentiment is 5.7 points above the nation’s index of 67.4.

The overall and future indexes for New Yorkers both increased this quarter. In the fourth quarter of 2021, buying plans were up from the third quarter of 2021 for homes and major home improvements.

However, buying plans were down for cars/trucks, consumer electronics, and furniture. Sixty-one percent of New Yorkers say current gas prices are having an impact on their financial condition. Seventy-two percent of residents say the money spent on groceries is also having a serious impact on their finances.

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