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Consumer sentiment climbs in Rochester region

Rochester Business Journal
July 11, 2013

Rochester area consumers appeared more confident in the second quarter than in the first quarter this year, the latest quarterly consumer sentiment survey by the Siena Research Institute shows.

Overall confidence in Rochester—which includes current and future confidence—was 74.2 in the second quarter, up from 70.1 in the first quarter, but down from 78.7 a year ago. Current confidence rose to 84.5 from 76.9 in the first quarter and 80.3 a year ago. Future confidence was 67.6, compared with 65.7 in the first quarter and 77.6 in the second quarter last year.

Eight of the state’s nine regions surveyed improved in overall confidence from the first quarter to the second quarter this year. Rochester ranked fifth in terms of overall confidence for the quarter.

“Consumers remain skeptical about the future as in nearly every area of the state, current confidence is higher than is the future outlook,” SRI founding director Douglas Lonnstrom said.

Overall confidence among Buffalo consumers was 73.2 in the second quarter, compared with 69.9 in the first quarter and 72.2 in the first quarter last year. Current confidence rose to 80.7 from 77.7 in the first quarter and 79.6 a year ago. Future confidence was 68.4, compared with 65 in the first quarter and 67.4 a year ago.

Confidence among Syracuse area consumers rose to 77 in the second quarter from 71.6 in the first quarter and 68.6 a year ago. Current confidence increased to 85.6 from 76.9 in the first quarter and 71.6 in the second quarter last year. Future confidence was 71.5, compared with 68.1 in the first quarter and 66.7 a year ago.

Buying plans among Rochester area consumers were up for vehicles, computers, furniture and major home improvements, while plans to purchase homes were down for the quarter.

The SRI index measures people’s willingness to spend, rather than their ability to spend.

(c) 2013 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or e-mail service@rbj.net.
 


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