According to a new survey issued by Citi (NYSE:C), and conducted by Hart Research Associates Boston residents’ outlook on the future has declined from nine months ago yet they remain more upbeat about the economy than Americans nationally.
61% of Bostonians believe that local business conditions will get somewhat or much better in the next twelve months, significantly more hopeful than adults nationally, 53% of whom believe local business conditions will improve.
However, the majority of Boston residents believe we have not yet hit bottom and the timetable for economic recovery will be measured in years, not months.
“Right now, Bostonian’s top financial priorities are saving for emergencies, to reduce debt and to fund retirement. It’s good to see they are exercising discipline to navigate the downturn in the near-term while keeping an eye to the future,” said Ken Kavanagh, EVP, Head of Citibank’s Central and Atlantic Regions.
In a separate survey by Charles Schwab (NYSE:SCHW), 60% of independent registered investment advisors say a double-dip recession in the U.S. is unlikely over the next six months, and more than 60 percent expect the S&P to increase during the same time period.
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