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NY metro consumer confidence up
Consumer confidence in the metropolitan region rose last month despite the devastation wrought by superstorm Sandy.
The Siena College Research Institute Friday reported its confidence index climbed 2.5 points in November to 83.1 for Long Island, New York City and its northern suburbs.
The index was the highest it has been since 2007. Readings above 76 points indicate more people are optimistic about their financial future than are pessimistic.
Siena pollster Douglas Lonnstrom attributed the bullishness to less concern about food prices and a greater willingness to spend.
Statewide, the number of residents saying they planned to purchase an automobile or computer in the next six months hit a five-year high.
The number expecting to buy furniture was the highest since 2004.
Lonnstrom said these results bode well for the holiday shopping season. Consumer spending accounts for about 70 percent of economic activity nationwide.