Mass. business confidence remains weak

Confidence among Massachusetts employers regained some ground in August as a Business Confidence Index rose 2.5 points to 47.1, but the survey results continued to depict a weak economy with no signs of substantial improvement in the months ahead, said the compiler of the index, the Associated Industries of Massachusetts, or AIM.

On its website, AIM describes itself as nonprofit, nonpartisan association of Massachusetts employers.

“More positive assessments of national conditions and six-month prospects gave us only the second monthly gain since last October,” Raymond G. Torto, chair of AIM’s Board of Economic Advisors, said in a statement. "Though the index recouped much of July’s loss in August, it is still well below a neutral 50 on its 100-point scale, and the ratings of national and state economic conditions are near 40, which is very weak.”
(By Chris Reidy, Globe staff)