Survey on Consumer Confidence Shows Mixed Results on LI

John Mitty Wednesday, January 15, 2014

According to a recent survey by the Siena College Research Institute, consumer confidence on Long Island is improving in both Nassau and Suffolk counties.  The results, released on Tuesday, were for the October-December period.  During that time, confidence rose seven-tenths of a point to 72 compared to the previous July-September period.  The institute also surveys eight other regions in New York. Long Island was the only region to show an improvement in the confidence index.  The result was also the second highest in the entire state, following New York City, which measured 75.4. 

While this is an improvement compared to the previous quarter, both numbers are below 76.01, which represents the midpoint on the index scale.  In other words, despite improvements in confidence, the majority of New Yorkers are still pessimistic about their financial futures, even on Long Island in New York City.  Moreover, the score was higher for the same quarter a year ago.  “Consumer sentiment is down from this time last year at least 2 percent in Long Island,” stated Siena pollster Donald Levy.  For the same quarter in 2012, Long Island’s index result was 73.6 points.  Buying plans have also declined; fewer respondents stated they had plans to purchase property (such as an automobile or a house), although there was an increase in the number of consumers who plan to purchase electronics in the coming six months.

 

jmitty@longislandyellowpages.com

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