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A new poll from the Siena College Research Institute reveals a modest rise in consumer sentiment among New Yorkers, with the index climbing 2.8 points to 71.9 in the second quarter of 2025. However, this figure remains four points below the sentiment level recorded a year ago. Despite the increase, New York's consumer sentiment still trails the optimism-pessimism breakeven point of 76.0, indicating that pessimism continues to outweigh optimism.
New Yorkers are feeling the pressure of monthly expenses, with 72% reporting that housing costs significantly impact their financial situation. Additionally, 66% are affected by rising utility bills, and 77% cite grocery spending as a serious financial burden. Nearly half of the state's residents, 49%, report being seriously impacted by essential expenses like housing, utilities, and food.
The poll also highlights a partisan divide in economic outlooks. According to Siena College Research Institute, Republicans in New York have a significantly higher consumer sentiment index of 85.8 compared to 66.7 among Democrats. This gap reflects differing views on the economic agenda influenced by President Trump.
Buying plans among New Yorkers are mixed, with a notable increase in plans to purchase consumer electronics and homes, while plans for buying vehicles and undertaking major home improvements have declined. Despite these challenges, Travis Brodbeck, SCRI’s Associate Director of Data Management, notes that consumer confidence is gradually recovering, although it remains below the threshold where optimism outweighs pessimism.
CBS6 Albany reports that the poll was conducted from June 25 to July 2, 2025, among 921 New York State residents, with a margin of error of +/- 3.6 percentage points. As the economic landscape continues to evolve, New Yorkers are adopting a cautious approach to spending, waiting to see how national and state economic policies will unfold.