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NY metro consumer confidence slips
Consumer confidence in the metropolitan area for August dipped to the lowest level since December 2011, pulled down by future worries about the economy, according to the Siena College Research Institute.
The confidence index in New York City, Long Island and the northern suburbs was 74.7 in August, a 2.8 point drop from July.
Siena pollster Doug Lonnstrom said the drop could be attributed to "jittery financial markets and possible military involvement in Syria." He added that "eroding future sentiment, down more than 10 points from last fall, was the prime suspect" of the fall in confidence.
Food prices also continued to be a major concern among those surveyed in the metropolitan area. Sixty-seven percent of those polled by Siena in the area said the cost of groceries was a serious problem in August, a four point increase over July.
Siena's consumer confidence index was compiled through surveying 556 random New York State residents by phone in August.