Consumer sentiment in upstate New York fell 5.3 points to 68.8 in March, according to the latest monthly survey the Siena (College) Research Institute (SRI) released today.
Upstate’s overall-sentiment index of 68.8 is a combination of the current-sentiment and future-sentiment components. Upstate’s current-sentiment index of 73.1 fell 9.9 points from February, while the future-sentiment level decreased 2.5 points to 65.9, according to the SRI data.
The upstate figure was 5.1 points below the statewide consumer-sentiment level of 73.9, which fell 2.4 points from February, SRI said.
New York’s consumer-sentiment index was 6.1 points lower than the March figure of 80 for the entire nation, which fell 1.6 points from February, as measured by the University of Michigan’s consumer-sentiment index.
Consumer sentiment fell for the second consecutive month in New York as residents endured storms, cold temperatures and heating bills, Douglas Lonnstrom, professor of statistics and finance at Siena College and SRI founding director, said in a news release.
Contact Reinhardt at ereinhardt@cnybj.com