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NYC area consumer confidence index up in November from year ago

Consumer confidence in the metropolitan region was reported

Consumer confidence in the metropolitan region was reported to be up in November 2014, compared with a year ago as concern about gasoline prices eased. This gas was being pumped on April 11, 2014. Photo Credit: AP

Consumer confidence in the metropolitan region was up last month compared with a year ago as concern about gasoline prices eased.

The Siena College Research Institute reported on Monday that its confidence index for Long Island, New York City and the northern suburbs was 87.9 points.

A year earlier, the index was 77.

Confidence readings above 76.1 points indicate the number of people who are optimistic about their immediate financial future is greater than the number who are pessimistic.

Siena surveys about 800 residents statewide each month for the confidence index. Polls were not conducted between July and October this year.

In the metropolitan area, 38 percent of respondents said gasoline prices were either a very serious or somewhat serious problem.

"We haven't seen gas prices this low since the fall of 2010 and consumers are celebrating falling prices with a collective sigh of relief," said Siena pollster Douglas Lonnstrom.

Retailers, economists and others closely follow consumer confidence because it's an indicator of consumer spending, which accounts for 70 percent of economic activity on Long Island and across the country.

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