Confidence rises among Rochester-area consumers
Confidence among Rochester-area consumers continued to climb in the second quarter, with an increase in overall, current and future confidence, the latest quarterly consumer confidence survey by the Siena Research
Institute shows.
Overall confidence, which includes current and future confidence, increased to 65.5 in the second quarter from 63.1 in the first quarter and 60.3 a year ago. Current confidence was 74.7, up from 72 in the first quarter and 64.4
a year ago. Future confidence rose to 59.6 last quarter from 57.4 in the first quarter and 57.7 a year ago.
Rochester was the only metropolitan area surveyed to improve on future confidence in the quarter. Of the five regions surveyed Rochester ranked second in the second quarter in terms of overall confidence.
Overall confidence among Buffalo area consumers was 59.6 in the second quarter, down from 60.2 in the first quarter, but up from 54.4 a year ago. Current confidence rose to 75 from 70.5 in the first quarter and 57.6 a year
ago. Future confidence fell to 49.6 from 53.5 in the first quarter and 51.1 a year ago.
Confidence among Syracuse area consumers was 63.6 in the second quarter, unchanged from the first quarter but up from 57.8 a year ago. Current confidence rose to 74.7 from 72 in the first quarter and 58.4 a year ago. Future confidence was 56.5, down from 58.2 in the first quarter and 57.4 a year ago.
ãOverall confidence remains well below the breakeven point, that point where equal percentages are both optimistic and pessimistic, but current attitudes as they near that point reflect the ironic outlook that ÎIâve been
down so long it looks up to me,âä SRI founding director Douglas Lonnstrom said. ãStill, in all areas except New York City, large pluralities or majorities expect bad economic times to persist over the next five years.ä
Buying plans for Rochester-area consumers were up for furniture and major home improvements in the second quarter, while plans to purchase vehicles, computers and homes were down. The SRI index measures peopleâs willingness to spend, rather than their ability to spend.
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