Mass. business confidence rose in June
A Massachusetts business confidence index posted 53.7 reading in June, up 2.2 points from its reading in May.
The index is maintained by the Associated Industries of Massachusetts, a group representing Bay State employes. The index uses a 100-point scale. A reading above 50 indicates that the state's employer community is predominantly optimistic while a reading below 50 points to a negative assessment of business conditions. The Index topped 50 – neutral on its 100-point scale – in May for the first time in more than two years.
An AIM press release included a statement from Raymond G. Torto, chair of AIM's Board of Economic Advisors and global chief economist at CB Richard Ellis Group Inc., a commercial real estate firm.
Commenting on the index's reading in June, Torto said: “Massachusetts employers report that current business conditions are now mildly favorable, and they are optimistic though not exuberant about continued improvement. They see Massachusetts business conditions keeping pace with or surpassing national conditions, in contrast to the experience in the recovery phase of recent past cycles.”
“The AIM Index has risen in 14 of 16 months since bottoming out in February 2009 and is up 15.5 points since last June," Torto added.
The confidence index of employers in Greater Boston (55.7) remained higher than that of employers in other parts of Massachusetts (51.1); both indexes rose 2.3 points in June, AIM said.
The graph with this post was included with AIM's press release.