The Massachusetts Consumer Confidence Index continued its up-and-down pattern with a drop in its latest reading.
The quarterly index is maintained by Mass Insight Global Partnerships, or Mass Insight, an organization that seeks to shape public policy around economic development.
The index’s reading was 82 for the most recent quarter, the same reading as the comparable quarter a year ago, and down 4 points from previous quarter’s reading of 86. The index is generally patterned after a national index developed by the Conference Board, which is scaled to 1985 as a base year with the rating of 100. The latest Massachusetts Consumer Confidence Index reading was based on interviews with 450 adults in Massachusetts, Mass Insight said.
Mass Insight chief executive and founder William Guenther commented on the latest reading of the Massachusetts Consumer Confidence Index in a statement.
“These data suggest that Bay State residents are again exhibiting the ‘see-saw’ pattern in attitudes that we have witnessed in recent years,” Guenther said. “There is not enough consistent positive news to boost consumer confidence and unemployment is already affecting 30 percent of households, 40 percent in the 18-30 demographic.”