Overall confidence is up:

1.9 pts in Albany to 89.5 (#1)

2.6 points in NYC to 81.9 (#2)

2.9 pts in Rochester to 81.0 (#3)

6.8 pts in Binghamton to 78.5 (#4)

4.2 pts in Syracuse to 78.1 (#5)

5.8 pts in Buffalo to 76.9 (#6)

Current confidence is up:

7.2 pts in Syracuse to 92.1 (#2)

3.0 pts in Rochester to 91.7 (#3)

6.1 pts in Buffalo to 90.6 (#4)

4.6 pts in Binghamton to 86.8 (#5)

2.3 pts in NYC to 79.2 (#6)

Future confidence is up:

3.4 pts in Albany to 84.9 (# 1)

2.9 pts in NYC to 83.7 (# 2)

2.9 pts in Rochester to 74.2 (# 3)

8.2 pts in Binghamton to 73.2 (# 4)

2.2 pts in Syracuse to 69.1 (# 5)

5.6 pts in Buffalo to 68.1 (# 6)

Overall confidence is down:

Nowhere.

Current confidence is down:

 0.4 pt in Albany to 96.6 (# 1)

Future confidence is down:

Nowhere.

   The “regions” looked at in SRI’s quarterly consumer confidence index report are “metropolitan statistical areas” (MSA’s). An MSA is a core urbanized area of 50,000 or more people plus adjacent counties with strong social or economic ties, as measured by commuting patterns.  In this report, an MSA is referred to by the name of its principal city.

   SRI has been following quarterly consumer confidence trends by MSA since the 4^th quarter of 2001 – the quarter following the 9/11 attacks that rocked New York City, the State, the nation and the world.

   After clear drops in consumer confidence in the year that followed, the six New York State MSAs that SRI tracks have rebounded a bit. In one year (since the 1st quarter of 2003), consumer confidence in:

-Albany went up 12.6 points and remained #1

-Rochester went up 8.2 points and remained #2

-Binghamton went up 15.5 points and moved up from #6 to #3

-Syracuse up 5.6 points and moved down from #3 to #4

-Buffalo went up 5.8 points and moved down from #4 to #5

-NYC went up  13 points and moved  up from #5 to #2

Buying Plans: 1st Quarter 2004, by MSA

Albany

Binghamton

Buffalo

NYC

Rochester

Syracuse

Car/Truck

18.0%

(up 3.9 pts)*

12.0%

down 3.4 pts)

15.1%

(up 3.4 pts)

16.6%

(down 0.4pts)

12.9%

(up 0.5 pt)

19.5%

(up 4.6 pts)

Computer

17.8%

(up 5.4 pts)

9.5%

(up 0.5 pt)

14.6%

(up 2.9 pts)

22.4%

(up 0.9 pts)

10.7%

(down 0.3 pt)

12.0%

(down 1.4pts)

Furniture

23.2%

(up 5 pts)

16.1%

(up 2.9 pts)

20.7%

(up 1 pt)

28.2%

(down 0.9pts)

20.9%

(up 6.8 pts)

21.5%

(up 6.6points)

Home

4.1%

(up 0.5 pt)

5.6%

(up 0.5 pt)

7.6%

(up 1.0 pt)

9.1%

(down 0.8pts)

4.6%

(down 0.3 pt)

5.6%

(up 2.2 pts)

Maj. Home Improvement

24.4%

(down 1.1pts)

19.5%

(down 5.4 pts)

19.0%

(down 1.9pts)

20.2%

(up 2.4 pts)

21.2%

(up 3.9 pts)

22.0%

(up 0.3 pts)

     The intent of the Consumer Confidence Index is to measure peoples’ willingness to spend, as opposed to their ability to spend. The six MSA’s studied - Albany, Binghamton, Buffalo, New York City, Rochester, and Syracuse - are profiled in an attempt to provide regional measures of the state’s economic health.

   The SRI survey measures current and future consumer confidence, which combined provides the overall consumer confidence.

   “These results are surprising,” notes Dr. Douglas Lonnstrom, Siena College professor of finance and statistics and SRI Director. “While there was some indication that the economy was recovering, this past quarter saw a lot of negative news: high energy prices, lack of jobs, huge deficits, and problems with Social Security and Medicare.  Yet, confidence is up.  The consumer continues to amaze the experts.”