Consumer Confidence Up, Still In Negative Territory
Amid reports of declining business confidence, slower economic growth and flat tax collections, Mass Insight on Thursday released index results that show consumers are more confident than at any point since April 2007.
"We may be ending the lost decade of consumer confidence if the economy continues to improve," William Guenther, CEO and founder of Mass Insight, said in a statement. "Massachusetts residents are not only rebounding from the recent recession, they are feeling more positive about the future both for the state and for the nation."
Mass Insight reported that based on its survey of 500 adult residents, which was taken in late September, the rise in confidence is attributable primarily to an increase in confidence about the future of the economy. The survey found 40 percent say available jobs in their area are hard to get, down 5 percentage points; the number of consumers who believe there are "plenty of jobs" increased from 10 percent to 13 percent; and 60 percent say things in Massachusetts are on the right track. Fifty-five percent of those polled thought the worst is over for the national economy.
Despite the jump in consumer confidence from 81 to 91, the score, like all scores below 100, shows respondents are still more negative than positive. 4:59 p.m.
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