‘Alarming’ Drop In Consumer Confidence In Mass.

By Kyle Alspach , Boston Business Journal

BOSTON (CBS) – The Massachusetts Consumer Confidence Index fell to the lowest level since early 2009 for the quarter ended in July, according to a report by Boston research firm Mass Insight Corp.

The firm described the drop, an 11-point decline from 67 to 56, as “alarming.”

Lisa van der Pool of the Boston Business Journal reports

It was the steepest negative movement since the 19-point drop between the second and third quarters of 2010, Mass Insight said.

The drop factored in both the assessment of current conditions and future expectations, the firm said.

“With talk of a possible double-dip recession and uncertainty about what the federal government is going to do next, consumers aren’t spending and businesses aren’t creating jobs,” said Mass Insight President William H. Guenther in a statement announcing the findings.

Mass Insight said Massachusetts consumer confidence is now 4 points lower than national consumer confidence — the first time since April 2008 that the Bay State has dropped below the U.S. as a whole in consumer confidence.

Comments

One Comment

  1. Elliott says:

    What accounts for Mass rankings being lower than the rest of the nation is directly related to a better educated, more media oriented public. With the pervasive and obsessive focus on doom and gloom by the media in general I’m surprised ratings aren’t even lower. This drive to sensational reporting depresses everyone, everywhere, all the time and succeeds magnificently in exacerbating every grim event. Even NPR has bought into the gloom-game. Responsible reporters know this and so does Programing. Once again senior management looks the other way. Where’s the balanced news/information reporting that use to be the media norm? Why can’t things change?

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