The New York State Index of Consumer Sentiment now stands at 71.9 up 2.8 points from the last measurement in the first quarter of 2025 according to the latest poll by the Siena College Research Institute (SCRI). New York\u2019s overall Index of Consumer Sentiment is 11.2 points above the national* index of 60.7 following a 3.7 point national increase. New York\u2019s current index increased 4.9 points to 71.6 and the future index increased 1.4 points resulting in New York\u2019s measure of future expectations moving from 70.6 last quarter to 72.0 today. Overall consumer sentiment remains higher in New York than across the nation. For the second consecutive quarter, the overall index is below the breakeven point of balanced optimism and pessimism.<\/p>\n
\u201cAfter a whirlwind of on-again, off-again tariff news, confidence of NY\u2019s consumers is gradually recovering following a sharp nine-point decline in the first quarter of 2025. In both New York and nationally, sentiment is improving\u2014but it still remains below the threshold where optimism outweighs pessimism. While current confidence in New York rose by nearly five points, the national figure increased by just one. Conversely, New York\u2019s future outlook rose 1.4 points, while the national future score jumped more than five and a half points since last quarter,\u201d according to Travis Brodbeck, SCRI\u2019s Associate Director of Data Management.<\/p>\n
\u201cFor the third consecutive quarter, Republicans in New York continue to be more optimistic compared to New York Democrats. Historically, consumers are more optimistic about the future economy than the present, with future expectations averaging 8 points higher since 2020. This quarter, the gap closed to a five-year low of 0.4 points, meaning future optimism is now barely higher than present positivity.\u201d<\/p>\n
<\/span><\/span><\/b><\/span><\/span>Buying plans in the second quarter are mixed. Since the previous quarter\u2019s measurement, buying plans for consumer electronics increased the greatest, rising 2.0 points to 47.0% (from 45.0%) and home buying plans also increased to 10.9% (from 9.7%). Vehicle buying plans declined to 17.8% (from 20.9%) and major home improvement plans edged down to 23.6% (from 24.3%). Buying plans for furniture remained unchanged from the previous quarter at 30.2%. Forty-seven percent (1% decrease from last quarter and the lowest since March 2021) of all New Yorkers say that current gasoline prices are having a very serious or somewhat serious impact on their financial condition. Seventy-seven percent (down from 79% last quarter) of state residents indicate that the amount of money they spend on groceries is having either a very serious or somewhat serious impact on their finances.<\/p>\n \u201cAs the President\u2019s agenda moves through Congress and trade deals are being actively negotiated, consumers\u2019 buying behaviors are mostly unchanged,\u201d Brodbeck said. \u201cWith so much change being discussed in the macroeconomy, consumers may be taking a wait and see approach when making purchasing decisions. While some big ticket items, such as buying a vehicle or paying for a major home improvement, have declined, more consumers are planning to purchase a home this quarter than the previous. Despite uncertainty around tariffs on electronics, the largest increase in anticipated purchasing this quarter was for buying consumer electronics.\u201d<\/p>\n New Yorkers continue to feel the weight of essential monthly expenses. This quarter, 72% say housing costs are having a serious impact on their financial situation, up slightly from 69% last quarter. Utility costs are at 66% (down from 67% last quarter), and 53% say streaming and entertainment services are a financial strain (up from 51% last quarter). Reports of cell phone costs being a very or somewhat serious financial burden increased to 38% (from 36%). Nearly half, 49%, of New Yorkers say they are seriously impacted by all three essentials\u2014housing, utilities, and food. Nearly one in five, 17%, report that all six key monthly expenses\u2014food, gas, housing, utilities, entertainment, and cell phones\u2014are weighing heavily on their finances.<\/p>\n This Siena College Poll was conducted June 25 – July 2, 2025, among 921 New York State Residents. For complete release, data summary, or trend analysis, visit www.siena.edu\/scri\/cci<\/p>\n","protected":false},"excerpt":{"rendered":" The New York State Index of Consumer Sentiment now stands at 71.9 up 2.8 points from the last measurement in the first quarter of 2025 according to the latest poll by the Siena College Research Institute (SCRI). New York\u2019s overall Index of Consumer Sentiment is 11.2 points above the national* index of 60.7 following a […]<\/p>\n","protected":false},"author":89,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-40805","post","type-post","status-publish","format-standard","hentry","category-business-news"],"yoast_head":"\r\n