Poll Shows Optimism among Republican Voters
By Hank Russell
The most recent poll from the Siena College Research Institute (SCRI) shows that consumer sentiment across New York State and the country are dropping as they are concerned about prices and the upcoming tariffs.
New York State’s Index of Consumer Sentiment (ICS) was at 69.1 during the first quarter of the year, down nine points from the previous quarter at 60.1. The current ICS stands at 66.7 — down 5.7 points — and the future index of 70.6 was less than in Q4 2024, when it was 81.7.
Nationwide sentiment was far worse at 57.0. This showed a 17-point drop from the fourth quarter of last year (74.0). The state’s current ICS was at 63.8 this quarter and the future index dropped to 52.6; each figure fell 19, 13.9 and 22.3 points below breakeven, respectively.
“Across the country, consumer sentiment fell off a cliff this quarter,” said SCRI Director Don Levy, adding these sentiments are at “the lowest we’ve seen since the inflation scare of June of 2022.”
The respondents’ attitudes towards the economy showed in their buying plans. According to SCRI data, 20.9% of all New Yorkers surveyed said they would buy a new vehicle within the next six months. That is slightly down from the last quarter at 21.9%. Only 45% said they would buy an electronic device (such as a computer, cell phone, TV or tablet) in the same timeframe, down from 49% in Q4 2024.
Home-related purchase plans took a hit. Only 30.2% would buy new furniture in six months, less than the last quarter (34.2%). The probability of buying a new home fell sharply from 11.5% to 9.7%. Lastly, 24.3% planned to make major improvements to their home. In the fourth quarter last year, that figure was at 28.8%.
“As the President moves ahead with tariffs on many foreign imports, buying plans for major consumer goods among New Yorkers all declined. Especially hard hit are electronics, home improvements and furniture,” Levy said.
Meanwhile, Republican voters seemed to be very optimistic about the economy. Their overall ICS was at 89.8 — a five-and the current ICS was at 78.8. The GOP voters were definitely optimistic about the future, with an index of 96.8.
Democrats, on the other hand, had a bleaker outlook. The indices were below the state’s. The overall index was at 66.5 and the current index was at 66.3. The future index was at 66.7.
When asked about their concerns about the prices of gas and food, Republicans’ worries were still elevated, but not as they were the previous quarter. Fifty-one percent were concerned about the price of gas (down from 69%), and 77% were worried about the price of food, which is lower compared to the previous quarter (91%). Again, 51% said food and gas prices were serious — a sharp plunge from Q4 2024 at 68%.
Democrats were less worried about the price of gas at 51%, but that is higher than the last quarter of 2024 at 46%. More Democrats were worried about food prices than Republicans at 79%, but is down from 83% last quarter. When it comes to both gas prices, 47% said it’s a concern, which is more that the 43% expressing concern about the same issue.
“Worries about the price at the pump hit a four-year low while at the same time grocery concerns continue to haunt nearly 80 percent of New Yorkers,” Levy said. “Despite shopping at the same stores and now feeling gas and grocery pain nearly equally, Republicans say compared to last quarter the impact of prices has dramatically lessened while Democrats say prices are hitting them much harder. Ah, the prism of politics.”