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NY-area consumer confidence climbs in September

The Siena College Research Institute said Wednesday its

The Siena College Research Institute said Wednesday its consumer confidence index for Long Island, New York City and its northern suburbs climbed 4.1 points to 78.8 last month compared with August. (June 7, 2013) Photo Credit: Bloomberg News

Consumer confidence in the New York area rose in September as worries eased about the price of food and gasoline.

The Siena College Research Institute said Wednesday its consumer confidence index for Long Island, New York City and its northern suburbs climbed 4.1 points to 78.8 last month compared with August.

The area index also remained above 76 points, indicating the number of people who are optimistic about their immediate financial future surpasses those who are pessimistic.

Retailers closely follow consumer confidence because it can shed light on spending. Consumer expenditures account for about 70 percent of economic activity in the metropolitan area and across the country.

Statewide, a record number of residents said they planned to purchase a home or consumer electronics in the next six months.

More people also expect to buy furniture or start a home improvement project while fewer people intend to get a new automobile.

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