Confidence among Mass. employers on decline
After more than a year of steady gains, business confidence has now declined for two straight months in Massachusetts as employers worry about the national economy.
Associated Industries of Massachusetts said today that its Business Confidence Index dropped eight-tenths of a point in August to stand at 47.7 on a scale of 100. The index had risen to 53.3 -- its highest level since the recession -- in June before dropping the last two months.
Any reading below 50 means employers are more pessimistic than optimistic about business conditions.
The chairman of AIM's Board of Economic Advisors, Raymond Torto, said businesses are clearly concerned about national economic conditions. But he also noted that most rated the business climate in Massachusetts better than the nation as a whole.