MA Consumer Confidence Index Rises to Highest Level Since 2002
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Friday, February 20, 2015
GoLocalWorcester Business Team
The Mass Insight Consumer Confidence Index (CCI) has risen sharply in the first quarter of 2015 with overall scoring moving up nine points from 97-106.
This increase represents the first time since 2006 that the index has gone over the 100 point level and marks the highest rating since April of 2002.
“Consumer confidence is at its highest level in over a decade primarily based on better economic conditions led by an increased availability of jobs,” said Mass Insight Chair, CEO and Founder William Guenther.
There are two major reasons for the ongoing economic improvement that are contributing to this escalating optimism – declining unemployment is reaching levels much closer to the historical average and the sharply lower gasoline prices," said Fred Breimyer.
Future expectations for CCI now rise to 120 which marks the highest rating since 2012 and the outlook on current conditions now sits at 84, marking the highest level in that reading since 2007.
Points that are over 100 represent positive confidence levels.
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