Siena Poll: US and New York State Consumer Sentiment Fell in Second Quarter

LOUDONVILLE, NY—The New York State Index of Consumer Sentiment now stands at 68.3 down 3.6 points from the last measurement in the second quarter of 2025 according to the latest poll by the Siena Research Institute (SRI).

New York’s overall Index of Consumer Sentiment is 13.2 points above the national index of 55.1 following a 5.6-point national decrease. New York’s current index fell 3.8 points to 67.8 and New York’s measure of future expectations decreased 3.4 points from 72.0 last quarter to 68.6 today. The Index of Consumer Sentiment remains higher in New York than across the nation. For the third consecutive quarter, the overall index is below the breakeven point of balanced optimism and pessimism.

“Like the autumn leaves, consumer sentiment is falling across New York and the nation as persistent economic headwinds have consumers feeling the pressure coming out of the summer season. In all quarterly measurements taken during 2025, consumer sentiment in both New York and across the nation has failed to rise above the breakeven point where optimism exceeds pessimism. While both New York and the nation saw current sentiment fall by four points, New York’s future outlook held much steadier, dropping by nearly four points compared to a significant national decline of over six points,” according to Travis Brodbeck, SRI’s Associate Director of Data Management. “New York Democrats report their bleakest economic outlook in five years, with overall sentiment dropping to 60. New York Republicans, by contrast, continue to show far greater optimism about the economy, with overall sentiment at 89. The Index of Consumer Sentiment in New York—and nationally—is now at its lowest point since 2022.”

According to the Siena poll, buying plans in the third quarter are mostly negative. Since the previous quarter’s measurement, buying plans for cars or trucks increased 1.8% (from 17.8%) to 19.6%. The two largest decreases in buying plans were in consumer electronics, falling 2.8% to 44.2%, and homes, dropping to 8.7% (from 10.9%). Major home improvement plans edged down to 23.3% (from 23.6%) and buying plans for furniture fell slightly to 29.7% from 30.2%, a 0.5% decrease.

Forty-six percent (1% decrease from last quarter and the lowest since March 2021) of all New Yorkers say that current gasoline prices are having a very serious or somewhat serious impact on their financial condition. Seventy-nine percent (up from 77% last quarter) of state residents indicate that the amount of money they spend on groceries is having either a very serious or somewhat serious impact on their finances.

“When it comes to making major purchases, consumers pulled back modestly this quarter, but they continue to spend,” Brodbeck said. “Gasoline and food prices remain a serious strain on New Yorkers’ finances, yet residents are not signaling any major belt-tightening. Most buying plans are down—with the exception of cars and trucks—but over the past five years, intent to spend has remained relatively stable. While questions about tariffs linger, residents continue to endure higher prices that have a serious impact on their budgets.”

New Yorkers continue to feel the weight of essential monthly expenses, Siena officials stated. This quarter, 71% say housing costs are having a serious impact on their financial situation, down slightly from 72% last quarter. Utility costs are at 72% (up from 66% last quarter), and 50% say streaming and entertainment services are a financial strain (down from 53% last quarter). Reports of cell phone costs being a very or somewhat serious financial burden remained steady at 38%. Nearly six in ten, 56%, of New Yorkers say they are seriously impacted by all three essentials—housing, utilities, and food. Nineteen percent of residents report that all six key monthly expenses—food, gas, housing, utilities, entertainment, and cell phones—are weighing heavily on their finances.