Massachusetts Consumer Confidence Suffers Slight Setback
BOSTON, July 27, 2012 /PRNewswire/ — The Mass Insight Consumer Confidence Index for Massachusetts saw slight downward movement in the Third Quarter, with the overall score declining from 85 to 81 after three consecutive quarters of Consumer Confidence Index increases. The drop is fueled primarily by a dip in expectations for the next six months. The Massachusetts Index tracks the National Conference Board data.
Concerns about the current job market remain high and relatively unchanged. Forty-five percent once again report that they believe jobs are hard to get. In regards to future jobs, the percentage of consumers who believe there will be “more jobs” in 6 months decreased from 31% to 25%, a continued decline since January 2012. While views on current business conditions have remained stable at 16%, consumers who believe general business conditions will be better in 6 months dropped from 35% to 24% since last quarter.
“We’ve hit a ceiling again in consumer attitudes,” said William H. Guenther, CEO and Founder of Mass Insight. “With national and global conditions still uncertain, positive economic trends in Massachusetts are not enough to improve confidence.”
The Massachusetts Consumer Confidence Index, published quarterly by Mass Insight, is modeled on the national Conference Board Index, which is scaled to a 1985 base of 100 and varies above and below 100. If the Index is less than 100, respondents are more negative than positive. In past years, the Conference Board Index has ranged from 145 in January 2000 to 47 in February 1992. The survey on which the Massachusetts Index is based is conducted for Mass Insight by Opinion Dynamics Corporation. This survey consists of telephone interviews with 500 adult residents of Massachusetts. The second quarter 2012 survey results were gathered from April 30 to May 6, 2012.
Mass Insight Global Partnerships, founded in 1989, is a Boston-based consulting and research firm that builds regional and global alliances between higher education, industry and government. Mass Insight organizes collaborative initiatives to shape public-private actions and develop innovative partnerships. For more information, visit www.massinsight.com.
SOURCE Mass Insight