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Overall confidence among Rochester consumers in the fourth quarter rebounded, the latest quarterly consumer confidence survey by the Siena Research Institute shows.
Overall confidence—which includes current and future confidence—was 77.8 in the fourth quarter, up from 73.9 in the third quarter and 70.7 a year ago. Current confidence rose to 79.2 from 76.9 in the third quarter and 73.9 a year ago. Future confidence was 76.9, compared with 72 in the third quarter and 68.6 in the fourth quarter last year.
Overall confidence rose from the third to the fourth quarter in each of the nine metro areas surveyed, and confidence was up at least 10 percent in all areas from a year ago, SRI reported. The Rochester area ranked second behind New York City in terms of overall confidence for the fourth quarter.
“Consumer sentiment was up strongly in every region of the state across the fourth quarter despite some slowing in December, SRI director Don Levy said. “Sentiment in New York City, Rochester and Albany has crossed the breakeven point and entered optimistic territory.”
Overall confidence among Buffalo area consumers in the fourth quarter increased to 74.2 from 70.8 in the third quarter and 64.6 a year ago. Current confidence rose to 81.5 from 77.3 in the last quarter and 68.6 in the fourth quarter last year. Future confidence was 69.6, compared with 66.7 in the third quarter and 62 a year ago.
Syracuse area confidence rose to 74.2 from 68 in the third quarter and 60.6 a year ago. Current confidence, however, dropped slightly to 74.3 from 74.7 in the third quarter, but was up from 65.6 a year ago. Future confidence rose to 74.2 from 63.7 in the third quarter and 57.4 a year ago.
Buying plans among Rochester area consumers were up in all categories, including vehicles, computers, furniture, homes and major home improvements.
The SRI index measures people’s willingness to spend, rather than their ability to spend.
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