|
|
Siena Research Institute
Siena
College, Loudonville, NY
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For more information or comment, contact Dr. Douglas
Lonnstrom at 518-783-2362 (office) or
518-456-6073 (home),
Loudonville,
NY – New
York State’s overall consumer confidence rose 1.5 points in March,
according to the latest poll by the Siena (College) Research Institute (SRI). At
79.3, New York State’s overall confidence is 13.3 points below the
nation’s* consumer confidence of 92.6.
|
March 2005 Consumer
Confidence: |
The Nation
|
New York State
|
diff. pts |
|
New York State
|
Metro
New York
City
|
Upstate NY |
Overall
|
92.6
(-1.5) |
79.3
(1.5) |
13.3 |
79.3
(1.5) |
81.2
(0.4) |
75.1
(2.2) |
|
|
Current |
108.0
(-1.2) |
88.3
(0.8) |
19.7 |
88.3
(0.8) |
87.5
(-0.8) |
89.8
(4.2) |
|
|
Future |
82.8
(-1.6) |
73.5
(2.0) |
9.3 |
73.5
(2.0) |
77.1
(1.2) |
65.7
(1.0) |
Buying plans are up for: cars and trucks,
0.3 points to 12.4%; computers, 2.5 points to 14.6%; and furniture,
0.3 points to 17.8%. Buying plans are down for homes, 0.2 points
to 5.1%; and for major home improvements, 1.3 points
to 16.7%.
“Consumer
Confidence took a big hit in February but bounced back slightly in March,
said Dr. Douglas Lonnstrom, professor of statistics and finance at Siena College
and SRI Director. “We made up some ground against the nation, but still
are 13 points down. Energy prices,
rising interest rates and the job market are still taking a toll.”
Each
month, the SRI survey establishes a Consumer Confidence index number for New
York State consumers. This index number allows a 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): February/March 2005
(Groups
listed in descending order by March’s Overall CCI
Rating) |
|||||||||
|
|
Overall |
Current |
Future |
||||||
|
|
Feb. |
Mar. |
chng |
Feb. |
Mar. |
chng |
Feb. |
Mar. |
chng |
|
Republicans
|
86.2 |
93.9 |
7.7 |
92.8 |
106.8 |
14.0 |
82.0 |
85.6 |
3.6 |
|
Higher
income |
85.6 |
86.4 |
0.8 |
99.3 |
98.5 |
-0.8 |
76.9
|
78.6 |
1.7 |
|
Under
Age 55 |
83.7 |
83.7 |
no
chg |
92.8 |
93.2 |
0.4 |
77.8 |
77.6 |
-0.2 |
|
Metro
NYC |
80.7 |
81.2 |
0.4 |
88.3 |
87.5 |
-0.8 |
75.9 |
77.1 |
1.2 |
|
Men
|
81.3 |
79.6 |
-1.7 |
91.3 |
90.6 |
-0.7 |
74.9 |
72.5 |
-2.4 |
|
New
York State
|
77.8 |
79.3 |
1.5 |
87.5 |
88.3 |
0.8 |
71.5 |
73.5 |
2.0 |
|
Women
|
74.5 |
78.7 |
4.2 |
83.7 |
86.0 |
2.3 |
68.6 |
74.0 |
5.4 |
|
Upstate
NY |
72.9 |
75.1 |
2.2 |
85.6 |
89.8 |
4.2 |
64.7 |
65.7 |
1.0 |
|
Lower
income |
69.6 |
72.8 |
3.2 |
75.0 |
78.1 |
3.1 |
66.2 |
69.3 |
3.1 |
|
Democrats
|
72.2 |
72.5 |
0.3 |
83.0 |
80.3 |
-2.7 |
65.2 |
67.4 |
2.2 |
|
Age
55+ |
68.9 |
72.2 |
3.3 |
79.2 |
80.3 |
1.1 |
62.3 |
66.9 |
4.6 |
|
|
Overall Mar. CCI Stats: Highest:
93.9 (Republicans)
Lowest:
72.2 (Age 55+)
Greatest
chng: +7.7 (Republicans)
|
Current Mar. CCI Stats: Highest:
106.8 (Republicans)
Lowest:
78.1 (lower
income)
Greatest
chng:
+14.0
(Republicans)
|
Future Mar. CCI Stats: Highest: 85.6 (Republicans)
Lowest: 65.7 (Upstate NY)Greatest
chng: +5.4 (women)
|
||||||
#
# #
The
SRI survey of Consumer Confidence was conducted in March 2005 by random
telephone calls to 623 New York State residents over the age of 18.
It has 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 www.siena.edu/sri/surveys.asp. *National data compiled by the University of Michigan.
