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Dec/11

15

Siena Research Institute released the first actual state of Massachusetts Survey: Business and personal finance

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Loudonville, NY (PRNewswire) 15 December 2011

49 percent of Massachusetts residents now believe that our territories are the best economic times behind us, and that the next generation feel needs to accept a lower standard of living and 46 percent of the current economic problems are temporary and are we the economic health return A new study published today in Siena (College) Research Institute (SRI), and the responsibility for First Niagara Bank. The cost of food is a financial burden for 65 percent, gas prices are a significant impact on the 60 percent of domestic fuel, and the concern by 71 percent. But to increase 41 percent to their retirement this year, more than in any way for their employers do not participate in the situation (11% of volume), added during the third to no money, and 13 percent had their withdraw savings to cover the expenses. Forty-two percent of state residents have less debt today than a year ago, while 40 percent say even deeper into debt and 46 percent, it is true, at least to some degree, that they have a six-month cost savings, the majority, 51 percent have not.

demand because the recession had experienced in the fall of 2007, they or their families 10 different economic events:

? 53% had taken the money from their savings or retirement expenses
? 41% have been a hobby because of the cost
? 26% have borrowed money for the necessities of the family or friends
? 14% have moved with the family or friends to make ends meet
? 32% have fallen behind in their bills
? 34% have experienced a loss of employment or dismissal
? 45% of these jobs will not increase in four years
? 56% have taken a party for at least a week
? 35% have received a new job
? 30% have bought a new car

81 percent of state residents will pay either a portion (38%) or high (43%), attention to news about the economy. Sixty-eight percent say that overall the government has more problems when it comes to economic issues, while 23 percent said the government has more than one solution.

first annual survey, the Massachusetts economy and personal finances are part of a larger study of confidence in the economy in Massachusetts and Connecticut. In February, the First Niagara survey is in southwestern New England Business leaders appear the investigation of confidence, concentration, planning and government attitudes among CEOs of private non-profit company.

Four years

hard times take their toll. Today, almost a majority believe in the American Century may have just ended, and only 45 percent expect that the economy will improve next year, said Dr. Don Levy, director of SRI. Hope is not lost completely. Fifty-two percent believe that to improve their personal finances in 2012, and as in the distant future, 63 percent believe the economy is at least somewhat better than 10 years today.

While most think that the government is more of a problem than a solution, they have a long list of places in Washington, they’d see Massachusetts put under the tree this season. Leaving the overwhelming majority of support for increasing taxes on more than $ 250K, U. Ss completed participation in the Afghanistan war, an aggressive infrastructure development programs, training, rather than to extend unemployment benefits, increasing research and development of domestic energy, monitoring activities and the financial sector and to extend to federal support for education, including Head Start programs and financial support for higher education. Sixty percent of support in order to maintain funding for programs like Social Security, said Levy.

pluralism calls for the repeal of the 45 percent of the newly defined in the health reform legislation, while 34 percent oppose the repeal, and 21 percent require more information to be able to say, said Levy.

In response to the current economic situation, said residents, they are changing on a daily basis in many behaviors. Seventy-three percent of plan costs now, and they are either fully or partially removed from the impulse buys. Seventy-one percent of state residents are to reduce the quantity or quality of entertainment, and 75 percent now carefully monitor and manage energy consumption in the household. Sixty-seven percent of the population now coupons or special offers to necessities such as food or clothing, and 52 percent of the substitute goods and services of lesser quality in these areas or the health or hygiene, to save money to buy. Forty-nine percent have major purchases like a car, appliance or delayed at home.

Percentage of households

member loses a job this year, 18 percent. Twenty-three percent of the population are members of the household work reduced hours. Do you know someone who has had their home, closed the whole state on the first day 28 per cent.

almost twice as many residents say they are financially worse off today than a year ago, were compared with those who say they themselves have improved a lot. The majority of state residents about their ability to continue living in the present standards of living are affected, and almost two thirds admit that they have more time than they used to spend about money worries, said Levy.

33 percent of the population expects a strong business conditions expected over the next year, a similar percentage, 38 percent of a difficult year. Studies so that residents of other states have been slow to see the recession coming, and less likely to forecast a recovery as an entrepreneur. We expect that the economic forecasts of the Massachusetts CEOs are very excited about this winter.

the first real economic and personal finance survey was conducted in 31 3 October November, from June to September, 11, 13-15. 17-18, 21-22, 28-December 1, 4, 2011 by random telephone calls 634 Massachusetts residents aged 18 years, both landline and mobile phones. The data are weighted by age and sex in order to improve representativeness. The results are reported margin of error is + / – 3.9 points. For more information or have suggestions, please call Dr. Don Levy, Vice President, Siena College Research Institute at 518-783-2901 or dlevy (at) Siena (dot) edu. Survey cross-tabulations can http://www.siena.edu/sri/research

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