ALBANY — For the second straight month, Upstate New Yorkers are feeling a little more confident about the state's economic outlook. In a poll released Wednesday, upstaters' overall consumer confidence index rose slightly to 51.9 in August. This represents a 1.5-point increase from July's 50.4, but remains well behind the index of 69.9 in August 2007.
But a vast majority of upstaters report gasoline (79.1 percent) and food (74.1 percent) prices are having a "very serious" or "somewhat serious" affect on their financial situations.
"Overall consumer confidence moved significantly upwards this month," said Douglas Lonnstrom, founding director of the Siena Research Institute, which conducted the survey. "We may have begun climbing out of the depths. Despite looking up a steep economic hill, more New Yorkers today think they will be better off next summer than those that believe they will backslide over the coming year."
Statewide, the overall consumer confidence index is 58.2 for August, up 4.8 points from July, but well off the 73.8 index for August 2007.
Nationally, the overall index for August is 63.0, up 1.8 points from July, but down considerably from 83.4 in August 2007.
Overall, New Yorkers remain reluctant to make large retail purchases, as overwhelming majorities said "no" to purchase plans of cars (90.0 percent), computers (84.8 percent), furniture (79.1 percent), homes (93.1 percent) or major home improvements (79.3 percent) in the next six months.
The poll offered no regional breakdown of the buying plan results.
The poll was conducted in August via random phone calls to 623 state residents over age 18. Since consumer confidence is expressed as an index number developed after statistical calculations on answers to several questions, there is no margin of error.
The base year, for which the index is set at 100, is 1966. Buying plans, represented as a percentage based on answers to specific questions, have a margin of error of plus-or-minus 3.9 percentage points.