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Long Island Businesses Suffer as Debt Weighs on Spending

11/18/2025

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Summary

Story summary

Small business owners on Long Island report decline in consumer spending as household debt hits $18.59 trillion.
Steven Kent, chief economist at Long Island Association, says middle- and lower-income households cut back on nonessential purchases.
Joseph Garcia, president of the Farmingdale Chamber of Commerce, notes consumers have less disposable income than before.
Owners Roberta Perry and Anna Cortesiano report customers buying less and dining out, with adjustments to customer relationships.

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Story summary

Small business owners on Long Island report decline in consumer spending as household debt hits $18.59 trillion.
Steven Kent, chief economist at Long Island Association, says middle- and lower-income households cut back on nonessential purchases.
Joseph Garcia, president of the Farmingdale Chamber of Commerce, notes consumers have less disposable income than before.
Owners Roberta Perry and Anna Cortesiano report customers buying less and dining out, with adjustments to customer relationships.