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Massachusetts consumer confidence fell sharply in latest Mass Insight survey

Aug. 13, 2014 | News Article

By Chris Reidy | Globe Staff

An index that seeks to measure the confidence of Bay State consumers fell sharply at the same time that national consumers grew more optimistic.

For the three-month period that ended in July, the Mass Insight Consumer Confidence Index posted a reading of 79, down 9 points from the previous quarter’s reading of 88.

The index is maintained by Mass Insight Global Partnerships, a Boston-based consulting and research firm. The firm’s index is similar to a national index developed by the Conference Board. The Conference Board index is scaled to a 1985 base of 100.

To determine quarterly readings, Mass Insight commissions Opinion Dynamics Corp. to conduct interviews with 450 Massachusetts adults.

According to the Mass Insight’s most recent survey, Massachusetts consumer confidence is now 12 points lower than the level of national consumer confidence.

For July, the reading on the Conference Board index was 91. The index had a reading of 82 in April.

“While the long-term trend remains positive, Massachusetts residents are skittish about the future, far more so than the rest of the country” Mass Insight president William H. Guenther said in a statement. “With the upcoming gubernatorial transition, the Commonwealth needs to offer a clear, achievable strategy for creating more jobs and fueling economic growth.”

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