Business confidence falls to its lowest level in four years

The Massachusetts business confidence index in February fell to its lowest reading since October 2003, the Associated Industries of Massachusetts said today.

The index fell to a reading of 50.2 last month, down from a January reading of 50.6.

A majority of the employers who responded to the monthly survey by the employer group based said that either a recession is likely or already underway, AIM said.

February's drop marked the sixth decline in the index in seven months, and the index is down 9 percentage points since February 2006, AIM said.
(By Chris Reidy, Globe staff)