Despite strong statewide economic growth in the first quarter, Massachusetts residents are still anxious about their economic prospects and less confident in the recovery, according to a recent statewide poll by The MassINC Polling Group (MPG).

The Index of Consumer Sentiment fell quarter-to-quarter, partly because of declining expectations about the near-term business environment, according to a statement. More than one-quarter (35) percent of Massachusetts residents predict good times for business in the year ahead. However, 53 percent said the year ahead will bring bad times for business.

Pessimism about the economy as a whole is more pronounced than concerns about a continuing deterioration of personal finances, according to the poll. Nearly half (45 percent) said they have lost financial ground in the last year, and only 20 percent expect the year ahead to be worse for their family. Most believe the year ahead will be the same (52 percent) or better (25 percent) from a financial standpoint.

"This disconnect shows us that, while the state is seeing economic growth, consumers still see trouble ahead," said Steve Koczela, president of MPG.

Poll: Mass. Residents More Optimistic About Personal Finances Than Economy

by Banker & Tradesman time to read: 1 min
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