Consumer Confidence Index
The Siena Research Institute, affiliated with Siena College in Albany County, has issued a monthly report on consumer confidence, which is developed through monthly interviews with a random sample of consumers across New York State since 1999. The measures developed by Siena College are also compared with the Consumer Sentiment Index developed by the University of Michigan which measures national consumer confidence so that comparisons can be drawn between New York consumers and consumers in the nation as a whole.
The index indicates consumers’ willingness to spend money on goods and services. The index measures current spending attitudes, perceptions about future expenditures, and provides on an overall indication of consumer confidence in the economy.
Consumer confidence is an important part of a local economy. Generally the higher the rating of consumer confidence, the greater amount of economic activity is generated. Higher consumer confidence numbers mean increased retail sales, better business conditions, and generation of increased sales tax revenues. Declining consumer confidence, on the other hand, usually indicates that business activity will decrease along with sales tax revenues.
For more information concerning the Consumer Confidence Index, visit the Website of the Siena Research Institute at:
