Upstate consumer sentiment rises slightly in December

Consumer sentiment in upstate New York rose 1.7 points to 69.1 in December, according to the latest monthly survey the Siena (College) Research Institute (SRI) released today.

Upstate’s overall sentiment index of 69.1 is a combination of the current sentiment and future-sentiment components. Upstate’s current-sentiment index of 72.4 is down 1.9 points from November, while the future-sentiment level increased 3.9 points to 66.9, according to the SRI data.

The Upstate figure was 4.5 points below the statewide consumer-sentiment level of 73.6, which was up 0.3 points from November, SRI said.

New York’s consumer-sentiment index was 8.9 points lower than the December figure for the entire nation of 82.5, which rose 7.4 points from November, as measured by the University of Michigan’s consumer-sentiment index.

 As 2014 begins, overall consumer sentiment in New York remains “slightly more pessimistic than optimistic,” Don Levy, SRI director, said in a news release.

“Compared to this time last year, confidence is down five percent among all residents, but up significantly among those earning more than [$100,000], and up a little among all New Yorkers making more than the state average [of $50,000],” Levy said.

SRI conducted its survey of consumer sentiment in December by random telephone calls to 622 New York residents over the age of 18.

For more survey results and analysis, check out the Jan. 10 issue of The Central New York Business Journal.

Contact Reinhardt at ereinhardt@cnybj.com