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Siena Research InstituteSiena College, Loudonville, NY |
For information/comment: Dr. Douglas Lonnstrom: 518-783-2362 (office); 518-456-6073 (home)
Click here for PDF of release or crosstabs 1, 2
NYS Consumer Confidence Jumps; All Numbers Up
New York City Area Maintains 10-pt Lead over Upstate
Home Buying Takes Big Hit
Loudonville, NY – For the second month in a row, New York State’s overall consumer confidence rose 5 points in December, according to the latest poll by the Siena (College) Research Institute (SRI). At the same time, the nation’s* consumer confidence rose 9.9 points. At 82.5, New York State’s overall confidence is 9.0 points below the nation’s consumer confidence of 91.5. Regionally, the New York City metro area surpasses upstate New York on every confidence level.
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December 2005 Consumer Confidence: |
The Nation |
New York State |
diff. points |
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New York State |
Metro New York City |
Upstate NY |
Overall |
91.5 (+9.9) |
82.5 (+5.0) |
-9.0 |
82.5 (+5.0) |
86.2 (+4.4) |
76.0 (+5.8) |
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Current |
109.1 (+8.9) |
89.4 (+4.5) |
-19.7 |
89.4 (+4.5) |
91.7 (+3.8) |
85.3 (+5.3) |
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Future |
80.2 (+10.6) |
78.1 (+5.4) |
-2.1 |
78.1 (+5.4) |
82.7 (+4.9)_ |
70.1 (+6.1) |
( ) reflects the point change from the previous month. *National data compiled by the University of Michigan.
Buying plans were up for major home improvements, 1.3 points to 18.7%. Buying plans were down for cars and trucks, 2.1 points to 11.0%; computers, 2.2 points to 14.7%; furniture, 2.8 points to 19.5%; and homes, 3.4 points to 4.5%.
“New York State has enjoyed a couple of good months of rising consumer confidence,” said Dr. Douglas Lonnstrom, professor of statistics and finance at Siena College and SRI Director. “Consumer confidence is now 10 points higher then in October. The decline in gasoline prices and mild December weather were major factors.”
Each month since January 1999, the SRI survey establishes a Consumer Confidence index number for New York State consumers. This index number allows a direct comparison of New Yorkers to all Americans (“the nation”) as surveyed by the University of Michigan’s Consumer Sentiment index. The SRI survey measures current and future consumer confidence, which combined provides the overall consumer confidence. SRI further looks at confidence in New York State by region (metro New York City and Upstate), age, income, gender and party.
Consumer Confidence in New York State (index numbers): December 2005(Groups listed in descending order by Overall CCI Rating) |
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Overall |
Current |
Future |
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Republicans |
92.7 (+9.7) |
101.2 (+11.8) |
87.3 (+8.5) |
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Higher income |
89.8 (+7.0) |
99.3 (+6.5) |
83.7 (+7.3) |
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Men |
89.3 (+8.7) |
94.0 (+6.1) |
86.4 (+10.5) |
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Under Age 55 |
86.8 (+6.2) |
93.6 (+6.5) |
82.5 (+6.1) |
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Metro NYC |
86.2 (+4.4) |
91.7 (+3.8) |
82.7 (+4.9) |
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New York State |
82.5 (+5.0) |
89.4 (+4.5) |
78.1 (+5.4) |
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Democrats |
81.5 (+7.3) |
86.8 (+2.3) |
78.1 (+10.5) |
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Age 55+ |
77.3 (+4.4) |
84.5 (+2.3) |
72.7 (+5.8) |
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Women |
76.2 (+1.7) |
85.3 (+3.1) |
70.3 (+0.7) |
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Upstate NY |
76.0 (+5.8) |
85.3 (+5.3) |
70.1 (+6.1) |
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Lower income |
72.5 (+1.1) |
76.2 (+0.4) |
70.1 (+1.5) |
The SRI survey of Consumer Confidence was conducted in December 2005 by random telephone calls to 620 New York State residents over the age of 18. As consumer confidence is expressed as an index number developed after statistical calculations to a series of questions, “margin of error” does not apply. Buying plans, which are shown as a percentage based on answers to a specific question, do have a margin of error of + 3.9 points. For more information or comments, please call Dr. Douglas Lonnstrom, Siena College professor of finance and statistics and SRI Director, at 518-783-2362 (office) or 518-456-6073 (home). Survey cross-tabulations and frequencies can be found at http://www.siena.edu/sri/results/2005/05_Dec_CCI.htm.
