Bay State consumer confidence dips
Consumer confidence in Massachusetts fell last month as consumers’ attitudes continued to show a pattern of inconsistency over two years, according to data from Mass Insight Global Partnerships.
The quarterly survey for Mass Insight, a Boston-based firm that explores partnerships between government, business and education, found that Bay State consumers have a more pessimistic view of current economic conditions than they did in the fourth quarter of 2013. Their optimism of future conditions also took a slight hit.
Mass Insight’s Consumer Confidence Index for the state registered an 82 (1985=100) in January, down from 86 in October. By comparison, Mass Insight said national consumer confidence is slightly lower, with a reading of 81.
The index for current conditions in Massachusetts fell to 55 from 64, while the gauge for future conditions dipped to 99 from 101.
“These data suggest that Bay State residents are again exhibiting the see-saw pattern in attitudes that we have witnessed in recent years,” said William Guenther, president and CEO of Mass Insight. “There is not enough consistent, positive news to boost consumer confidence, and unemployment is already affecting 30 percent of households …”
The data, collected from 450 interviews, concluded the following:
- Just over half of those surveyed – 54 percent – said things in Massachusetts are headed in the right direction. That’s down from 58 percent in October.
- Only 15 percent say there are “plenty of jobs” available in their area right now, down from 17 percent in October.
- But 26 percent say there will be plenty of jobs in six months. That’s the same as in the October survey.
- Only 22 percent guessed that their total family income in six months would be higher. In October, that figure was 29 percent.
Editor's note: An earlier version of this story incorrectly stated how many interviews were conducted for the survey. Of 450 interviews conducted, 119 were via cell phone.
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