Published: Mon, 19 Oct 2009
Description: (NECN: Peter Howe, Lynnfield/Saugus, Mass.) Massachusett residents say they think the economy's turning around -- but they aren't acting that way, yet. And that could severely complicate hopes of an economic comeback anytime soon in the ...
Automatically Generated Transcript (may not be 100% accurate)
" Even though there have been several signs recently of economic recovery Massachusetts residents remain nervous. A recent survey finds few expect improvement by the end of the year and many are worried about their jobs and holding back on spending. NEC and business reporter Peter -- has more on what the economic uptick is meant to the average Joe."
" And Shapiro of -- Massachusetts. Is trying to move from teaching college chemistry to a new career in healthcare. The economy isn't making anything easier."
" My financial situation. Has changed so I've had to cut back intensive my shopping I've been looking for bargains. I have been watching."
" You know my my bank account in terms of when the economy fully recovers she's optimistic but hard pressed to say win given me."
" The current state of that in -- it it seems like it's gonna take awhile but -- plastic."
" Globe Suffolk University poll finds that a lot of people in Massachusetts agree with Pam. In fact 58%. See it taking at least two years before the economy recovers a -- 40%. Think three whole years people are telling us that a recovery is underway. But in their day to day decisions. They're giving us no signal of an economic recovery didn't Helio -- strict suffix polling center. Some of the most discouraging numbers he found. 41% of Big East leaders are spending less. 50% are traveling less than a year ago. And 56%. -- outlets also 44%. Are somewhat or very concerned I will lose my job. The poll tells us that there's a disconnect between what people are telling us about the economy that they think it's recovering. And what they're actually doing data -- There eating at home more of it traveling less there. They're spending less money overall the giving to charity less of course a big question is how much of this could become a self fulfilling prophecy. If 58% of Massachusetts residents think the terrible economic times last for two years longer more and cut back on spending and businesses hold off on expanding. Does that sour attitude create its own reality until people start spending again I mean with 80% of the people are saying that this spending less or the same. You can't have an economic recovery -- 20% of the people."
" Well Peter joins me on the set up if these poll numbers in this latest poll compared with the polls taken six months a year. What you have -- that's a -- because they have done the same surveyed its six month intervals and it's interesting that you know the overall. Feeling is about as bad as it was six months ago a -- you know economic outlook certainly a lot better but in terms of you know holding back on spending. It the only thing the pixel -- travel spending which is probably a function of you know how -- Jet fuel and fuel prices overall were twelve months ago one thing that is interesting is slightly fewer people say they're worried about losing their jobs which is probably encouraging. But you know until they actually start acting like they think economies come back. You know become you're probably doesn't come back our thanks Peter how reporting thank you."