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The intent of the Consumer Confidence Index is to measure peoples’ willingness to spend, as opposed to their ability to spend. Each month, the SRI survey establishes a Consumer Confidence index number for New York State consumers. This index number allows a comparison of New Yorkers to all Americans (“the nation”) as surveyed by the University of Michigan’s Consumer Sentiment index. The SRI survey measures current and future consumer confidence, which combined provides the overall consumer confidence. Since June 2008, we have also looked at the monthly impact of gas and food prices on New York State consumers. SRI's monthly survey further looks at confidence in New York State by region (metro New York City and Upstate), age, income, gender and party. SRI also produces a quarterly consumer confidence index that looks at six regions (MSAs) of New York State: Albany, Binghamton, Buffalo, New York City, Rochester and Syracuse.* The quarterly CCI provides regional measures of the state’s economic health. SRI has been following quarterly consumer confidence trends by MSA since the 4th quarter of 2001 – the quarter following the 9/11 attacks that rocked New York City, the State, the nation and the world. |
