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What say Research Institute on Ukraine War

Ed Townsend
Posted 4/5/22

So how does the war in Ukraine and the international response to it affect us in New York?

Some 54% of New Yorkers, in a special economic impact survey produced by the Siena College Research …

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What say Research Institute on Ukraine War

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So how does the war in Ukraine and the international response to it affect us in New York?

Some 54% of New Yorkers, in a special economic impact survey produced by the Siena College Research Institute at Siena College in Loudonville, NY say the “Ukraine War will financially haunt Americans for years.”

The Siena College report says that the Ukraine war and the international response, “will lead to long-term economic problems that all Americans will face for years.”

The report points out “that thirty-two percent are more inclined to say that the war will soon end and despite significant short-term economic impacts, the American economy as well as the personal finances of Americans will be largely unaffected.”

The College Research Institute report noted that 70 percent of those interviewed say that “inflation is having a serious negative effect on them and concern is high on the cost of gas, food and utilities.”

Two-thirds of folks taking part in the impact survey say they, “plan on buying less and will buy less expensive.”

One third will “cut back on vacation and get a second job.”

Siena College Research Institute Director Don Levy said, “we will have to wait and see how the economy reacts this spring and summer and what the impact of war in Ukraine will be, but for now, New Yorkers, weary from two years of COVID, are expressing economic concerns that will pre-occupy their decisions and perhaps slow economic activity in New York.”

“With the pandemic effects lessening, New Yorkers were ready to exhale, but economic conditions and war in Eastern Europe have us holding our breath again,” and “food prices and gasoline, now worry at least eight out of every ten New Yorkers,” Levy said.

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