Mass. Consumers Down On The Future
The Massachusetts Consumer Confidence Index fell steeply in the first quarter of 2013, nearly wiping out a gain in the prior quarter, according to the non-profit Mass Insight Global Partnerships.
The index fell nine points to a score of 82 for the first quarter. The drop was mostly fueled by worsening evaluations of future expectations. Consumer perspective on current economic conditions remained stable.
The index had gained 10 points in the fourth quarter of 2012, climbing from 81 to 91.
“The people of the commonwealth, like the rest of the nation, seem to be accepting the new normal in their economic outlook,” William Guenther, chairman and CEO of Mass Insight, said in a statement. “The ongoing uncertainty about the availability of jobs coupled with stagnant income levels continues to unsettle Massachusetts residents.”
The scale ranges from zero to 200, and hit a low of 38 in early 2009.
Of those surveyed for the most recent quarter, 46 percent said jobs were “scarce” and 62 percent said they thought the number of jobs available six months from now would be flat or lower.
More than 25 percent said they or someone in their household had been involuntarily unemployed in the last month, a figure that has been steady for three years.
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Mass. Consumer Confidence Surges Ahead Of U.S.
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