Surveys: New Yorkers Cautiously Optimitic On The Economy

Jul 5, 2012

Results from two new surveys present a snapshot of how New Yorkers are experiencing the lackluster economy - and forecast where it's headed... Hudson Valley Bureau Chief Dave Lucas reports

Siena Research Institute is out with its monthly Consumer Confidence Index for New York State and Next-Act of Colonie has just released it's weekly job market report - two economic indicators that suggest New Yorkers remain cautiously optimistic going into the days of summer... Siena's Dr. Douglas Lonnstrom says June's figures compare New York's numbers against the entire U.S.

A surprise from the employment sector: Next-Act's Dan Moran says that at a time when not expected, just before the July 4 holiday, job postings across the region increased ... Moran interprets the data he calls "the unusual activity" as a sign that things will get better heading into the 3rd quarter. Moran believes employers have reached the point where they truly have jobs to fill and are more confident that they'd been since the economy turned sour.


Siena's Doug Lonnstrom points out the economy gets a short-term boost when gasoline prices fall. Dan Moran expects the 3rd Quarter could be a turning point for New York's economy and work initiatives.

Moran notes the 3rd quarter expectations are in line with analysts' forecasts - Doug Lonnstrom says confidence as the summer season begins is nearly ten points above where it stood this time last year and every early summer since the recession of 2007.