Economy

Survey: NYS consumer sentiment decreases in January

2013-02-06T09:16:00Z 2013-02-06T18:51:09Z Survey: NYS consumer sentiment decreases in JanuaryThe Citizen staff Auburn Citizen
February 06, 2013 9:16 am  • 

The state's overall index of consumer sentiment fell 2.8 points to 74.5 in January, according to a survey conducted by the Siena Research Institute.

While consumer sentiment increased among higher income earners, the overall scores decreased among all other demographics. Overall consumer sentiment for Democrats dropped six points to 85.8 and the score for lower income earners decreased five points to 68.2.

Upstate New York's overall index of consumer sentiment fell 2.5 points to 68.3.

"New York's overall index is just about the same as the national number but the future, while no bed of roses, still looks a lot more like flowers to New Yorkers than the thorns that lie ahead according to the national mood," Siena Research Institute Founding Director Dr. Doug Lonnstrom said in a statement.

While fewer New Yorkers are impacted by gas prices, the survey found, 71 percent of respondents said food prices have a somewhat or very serious impact on their financial situations.

Less than half of those surveyed — 47 percent — said both food and gas prices have an impact on their finances.

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