New Yorkers are feeling a little less secure about where the economy is going.
The latest Siena College Research Institute Index of Consumer Sentiment taken in June is down two points from March at 92.1. That’s three points less than the national index, but still well above what Siena calculates as the break even point at which optimism balances pessimism. It means there’s still a good bit of strength in the consumer driven marketplace.
The decline in New York consumer sentiment is all in Upstate New York and the New York City suburbs. The city itself was unchanged from March.
Republicans are the most bullish on the economy, up by more than 20 points over the past year since President Trump was elected. Democrats are down six points.
People in general are planning to buy consumer electronics and looking at major home improvements, but they’re not buying cars or trucks, and home sales have slipped from near record levels last quarter.