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Consumer sentiment holding steady in New York despite drop across U.S.

National consumer sentiment dropped five points this summer, but in New York it held steady, according to a Siena College survey released on Wednesday.

Consumer sentiment is considered a key economic indicator of the health of the economy, which is facing headwinds of a trade war between the U.S. and China.

“New York sentiment overall was unchanged since the second quarter, solidly positive, equal to the nation in guarded future optimism but less rosy in our assessment of current conditions,” said Doug Lonnstrom, professor of statistics and finance at Siena College.

New York City residents are driving future sentiment upwards, and upstate residents are slightly more optimistic than pessimistic when it comes to the future.

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