The Massachusetts Business Confidence Index dropped in May over concerns about the slowing economy, said the group that maintains the index.
That group is the Associated Industries of Massachusetts, or AIM, the state’s largest employer group. For the month of May, the index posted a reading of 51.7, which was 4.4 points lower than April’s reading. The index uses a 100-point scale. A score above 50 indicates a positive assessment of business conditions.
In a statement, Raymond G. Torto, the chair of AIM’s Board of Economic Advisors, said: “The results mirror the national news. A series of economic reports is telling us what AIM members were seeing in mid-May – disappointing growth and job creation, weakness in manufacturing and real estate, and declining consumer confidence locally and nationally, along with renewed turmoil in the Euro zone and its impact on financial markets.’’