Mass. consumers gain more confidence
Consumers in Massachusetts showed more faith in economic conditions last month, although they’re more optimistic about the future than they are about today, according to the results of the latest quarterly survey from Mass Insight Global Partnerships.
Mass Insight’s consumer confidence index rose to 88 in April from 82 in January. That six-point surge followed a four-point drop between October and January. It’s also the highest reading since the index hit 91 in October 2012.
The index is a blend of how Bay State consumers feel today and how they feel about conditions six months into the future. The reading on current conditions, 66, is the highest since October 2007, just before the onset of the Great Recession, when it recorded a 76. Three months later, it plunged to below 50, a level it didn’t surpass until April of last year.
Meanwhile, Mass Insight’s index of “future expectations” rose from 99 to 103.
“There is a continued confidence that the economy will further improve as the recovery progresses,” Mass Insight President William H. Guenther said in a statement.
He said consumers are “cautiously optimistic” today because of lower unemployment rates, rising home values and stable interest rates.
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