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New York's Consumer Confidence Index Falls, Defying National Upward Trend

By DNAinfo Staff on January 6, 2010 12:25pm  | Updated on January 6, 2010 12:24pm

Shoppers crowded the men's section at Macy's in Herald Square on Black Friday.
Shoppers crowded the men's section at Macy's in Herald Square on Black Friday.
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Heather Grossmann/DNAinfo

By Mariel S. Clark

DNAinfo Reporter/Producer

MANHATTAN — New Yorkers were less willing to open up their wallets than the rest of the nation over holiday season, according to the latest overall consumer confidence numbers.

Consumer confidence in the city fell 0.9 points in December as compared to the rest of the country, which saw a jump of 5.1 points, according to a poll from Siena Research Institute.

New York State's consumer confidence index increased 0.7 points, to 65.8, which is still below the national average of 72.5, according to the poll.

“National consumer confidence increased this month as buyers saw many prices as too good to pass up,” said Dr. Don Levy, the institute's director, in a statement. “But New Yorkers were more reluctant to pull the spending trigger."

New Yorkers said they expected 2010 to be financially better than the previous year, but many continued to struggle with high gas and food prices, Levy said.

New York Democrats were the most positive about the future at 76.4 confidence score; state Republicans came in near the bottom with a 59.1 level.

"Today, consumers are concerned and worried rather than panicked as they were when 2009 began," Levy said.