Biz Confidence Falls In February
February was a tough month for business confidence in the Bay State.
The Associated Industries of Massachusetts reported that its business confidence index dropped four points to 51.2 from January to February. Despite the monthly drop, it's still up 7.1 points over February 2010 and 17.9 points over February 2009.
Confidence had been on the rise, increasing for four consecutive months through January.
The sub-measures of performance were also down in February. For example, the current index, which measures overall conditions at the time of the survey, was down 4.9 points to 47.5. That's the first time since September that index has fallen below 50.
The AIM Business Confidence Index is based on a survey of AIM members. It is based on a 100-point scale, with a reading above 50 indicating a positive outlook and a reading below 50 indicating a negative outlook.
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