Consumer Optimism Increasing in New York

Consumer optimism rises in New York, despite falling nationwide, particularly among the wealthy.

According to the latest poll by the Siena College Research Institute, the New York State Index of Consumer Sentiment rose 2.1 points in the second quarter of 2018, while the nationwide figure fell three points.

W.G.Y. Financial Analyst Dennis Fagan says a lot of factors contribute to the rise in optimism.

"New York unemployment's relatively low, cities are doing well, there's a lot of amenities, it has a lot to do with the fact that there's more jobs for people out there than there are people looking for jobs, and New York's no different."

People in upstate New York are more optimistic than those living in metro New York City by a two-point margin, according to the institute.

The Fagan Financial Report is heard Sunday mornings at 10 A.M. on W.G.Y.

Photo: Getty Images

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