Overall confidence is up:

Nowhere.

Current confidence is up:

1.5 points in Buffalo to 92.1 (#2)

Future confidence is up:

0.2 points in Rochester to 74.4 (#3)

Overall confidence is down:

3.6 points in Albany to 85.9 (#1)

2.5 points in NYC to 79.4 (#2)

1.7 points in Rochester to 79.3 (#3) 2.1 points in Buffalo to 74.8 (#4)

4.0 points in Binghamton to 74.5 (#5)

5.0 points in Syracuse to 73.1 (#6)

Current confidence is down:

4.2 points in Albany to 92.4 (#1)

4.9 points in Rochester to 86.8 (#3)

7.6 points in Syracuse to 84.5 (#4)

3.4 points in Binghamton to 83.4 (#5)

1.5 points in NYC to 77.7  (#6)

Future confidence is down:

3.2 points in Albany to 81.7 (#1)

3.2 points in NYC to 80.5 (#2)

4.3 points in Binghamton to 68.9 (#4)

3.4 points in Syracuse to 65.7 (#5)

4.4 points in Buffalo to 63.7 (#6)

   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.

   In one year (since the 2nd quarter of 2003), consumer confidence in:

-NYC went up 10.9 points and moved up from #6 to #2

-Albany went up 3.7 points and remained #1

-Rochester went up 0.6 points and moved down from #2 to #3

-Binghamton went up 1.9 points and moved down from #4 to #5

-Syracuse went down 1.9 points and moved down from #3 to #6

-Buffalo went up 2.5 points and moved up from #5 to #4

Buying Plans: 2nd Quarter 2004, by MSA

Albany

Binghamton

Buffalo

NYC

Rochester

Syracuse

Car/Truck

16.1%

(down 1.9 pts)

14.6%

(up 2.6 pts)

16.1%

(up 1.0 pt)

15.1%

(down 1.6 pts)

14.9%

(up 2.0 pts)

13.9%

(down 5.6 pts)

Computer

11.2%

(down 6.6 pts)

12.2%

(up 2.7 pts)

10.7%

(down 3.9 pts)

18.6%

(down 3.8 pts)

9.8%

(down 0.9 pts)

10.0%

(down 2.0 pts)

Furniture

21.7%

(down 1.5 pts)

15.6%

(down 0.5 pts)

14.4%

(down 6.3 pts)

26.3%

(down 1.9 pts)

17.6%

(down 3.3 pts)

18.2%

(down 3.3 pts)

Home

4.1%

(no chng.)

4.6%

(down 1.0 pt)

4.6%

(down 3.0 pts)

9.3%

(up 0.2 pts)

3.9%

(down 0.7 pts)

4.4%

(down 1.2 pts)

Maj. Home Improvement

23.9%

(down 0.5 pts)

19.5%

(no chng.)

19.5%

(up 0.5 pts)

18.5%

(down 1.7 pts)

21.2%

(no chng.)

25.3%

(up 3.3 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.

“Confidence is down everywhere - the nation, the state and in the six cities we study,” notes Dr. Douglas Lonnstrom, Siena College professor of finance and statistics and SRI Director. “The economic news this past quarter has been mixed.  Corporate earnings and employment are up, but they are offset by high energy prices and the potential for higher interest rates.  As a result, buying plans are generally down, and we can't seem to sustain a positive momentum.”