Consumer confidence falls across most of NY: Siena
Monday, October 03, 2011 - 10:24 AM
According to a new Siena Research Institute poll, consumer confidence has fallen in eight out of nine regions across New York. Only the Albany area saw a surge in confidence, up three points from the last poll to 65.1 percent, making the Capital Region the second most confident in the state.
While Albany's current confidence went against the trend across the rest of the state, every area of New York agreed on one thing: the future looks worse.
“Let’s recap, debt ceiling crisis, national political turmoil, Europe hanging by a thread, Wall Street roller coaster and no new jobs in sight, no surprise the third quarter saw confidence drop in almost every region in New York,” Douglas Lonnstrom, Siena College professor and SRI Founding Director, said in a statement. “While Albany is far from a robust economy, the capital region stands alone this quarter with an increase in current confidence. Most concerning is the universal decline in future confidence this quarter with huge drops in Binghamton, NYC, Utica and Mid-Hudson.”