Consumer confidence begins to rise across LI

Over the past few weeks, economists say consumer spending, the stock market and housing sales have been up, while unemployment has been ticking down. However, many times what's happening on Wall Street

News 12 Staff

Jun 1, 2013, 3:03 AM

Updated 4,005 days ago

Share:

Consumer confidence begins to rise across LI

Over the past few weeks, economists say consumer spending, the stock market and housing sales have been up, while unemployment has been ticking down.

However, many times what's happening on Wall Street is very different from what's taking place on Main Street, USA.

One Long Island economist says much of the recovery is "smoke and mirrors," and that the recovery in Nassau and Suffolk counties will take a little longer than the rest of the nation.

"Remember, consumer spending is up because the federal government has put an injection of over $4 billion in due to Sandy," says economic analyst Dr. Martin Cantor.

But Bill Etts, of the Sayville Chamber of Commerce, believes the economy has turned the corner.

"For the last four years, there has been nothing but real pessimism," he says. "I think we are seeing customers coming in and thinking, 'Gee, I can spend now,' which is something we haven't seen in a while."


More from News 12
0:29
State police: Crash closes section of Southern State Parkway in West Babylon

State police: Crash closes section of Southern State Parkway in West Babylon

1:52
Pleasant Monday kicks off workweek warm up on Long Island

Pleasant Monday kicks off workweek warm up on Long Island

1:46
Pizza Strong: Massive fundraiser supports family of slain NYPD Detective Jonathan Diller

Pizza Strong: Massive fundraiser supports family of slain NYPD Detective Jonathan Diller

1:55
Northwell Health Walk at Jones Beach raises money to support women and children

Northwell Health Walk at Jones Beach raises money to support women and children

0:15
Superintendent: Swastika found on classroom desk at Harborfields High School

Superintendent: Swastika found on classroom desk at Harborfields High School

Guide: School Vote 2024 budgets and tax informaton

Guide: School Vote 2024 budgets and tax informaton

0:39
Police: Man injured in Wyandanch shooting; suspect at large

Police: Man injured in Wyandanch shooting; suspect at large

1:59
Greenlawn teen arrested, accused of making ‘threat of mass harm’ at Oldfield Middle School

Greenlawn teen arrested, accused of making ‘threat of mass harm’ at Oldfield Middle School

1:45
 Missed swim lessons due to COVID-19 may be contributing to rise in child drownings

Missed swim lessons due to COVID-19 may be contributing to rise in child drownings

0:51
Vet Fest in Farmingdale aims to support, encourage veterans who need help

Vet Fest in Farmingdale aims to support, encourage veterans who need help

0:17
Authorities: George Washington Bridge climber in custody

Authorities: George Washington Bridge climber in custody

0:32
Police: 3 people arrested during State Liquor Authority compliance check at Huntington Station deli

Police: 3 people arrested during State Liquor Authority compliance check at Huntington Station deli

2:28
How did a Nassau County doctor overprescribe highly addictive pain pills, despite strict laws in place?

How did a Nassau County doctor overprescribe highly addictive pain pills, despite strict laws in place?

1:43
CDC urges people to get vaccinated amid resurgence of mpox

CDC urges people to get vaccinated amid resurgence of mpox

1:46
Hit-and-run on South Oyster Bay Rd. in Plainview leaves woman with concussion, 6 staples in head

Hit-and-run on South Oyster Bay Rd. in Plainview leaves woman with concussion, 6 staples in head

0:26
Principal: Student approached by van full of men in ski masks in Selden

Principal: Student approached by van full of men in ski masks in Selden

1:39
Montauk Music Festival rocks the East End

Montauk Music Festival rocks the East End

2:06
Homeowners asked to check home security video after string of Nassau County break-ins

Homeowners asked to check home security video after string of Nassau County break-ins

0:24
Police: Hempstead man exposed, touched himself inappropriately at Roosevelt Field Mall

Police: Hempstead man exposed, touched himself inappropriately at Roosevelt Field Mall

1:53
Toys for Tots make contribution to Promise of Hope Foundation to honor fallen Detective Jonathan Diller

Toys for Tots make contribution to Promise of Hope Foundation to honor fallen Detective Jonathan Diller