Citi Survey Finds Boston Residents Making Significant S
and Savings Changes but More Optimistic Than the Rest
U.S. That Economic Circumstances Will Improve
More than Half Have Postponed Major Purchases; 40% Have Taken Money Out of Savings or Investments to Help P
One-Third Working Longer Hours to Make Ends Meet
Boston Women Optimistic About the Future, But Still Cutting Back
November 18, 2009 05:50 AM Eastern Time
BOSTON--(EON: Enhanced Online News)--A new survey released today by Citi revealed that Boston-area residents are more o
their own personal finances and local business conditions than the nation as a whole. In response to current economic concerns, ho
area residents continue to make dramatic changes in their personal behavior and financial planning, including 51% who have postpo
of a major item such as an automobile or other expensive item, 40% who have taken money out of savings or investments to help p
one-third of Boston area residents (33%) are working longer hours to make ends meet.
Compared to national survey data released by Citi in September 2009, key findings from Citi’s Boston survey illustrate:
l Forty-eight percent of Boston residents believe that the country’s economic conditions have a ways to go before hitting botto
not nearly as bleak as the 63% at the national level.
l Sixty-five percent of Bostonians expect that local business conditions will become much or somewhat better over the next 12
compared to 57% nationally who believe business conditions will get better in their area.
l This optimism also is felt at the micro-level, with 68% of Boston adults optimistic that their own financial situation will improv
compared to 65% nationally.
Despite this growing feeling of optimism, Boston residents still expressed significant concerns about the state of today’s economy. O
Bostonians rate the economy in their area as excellent or good, while 72% describe the local economy as only fair or poor; this figur
22% of national survey participants that rate the economy as exc