November 1, 2011
Business Confidence Drops Again
By Brandon Butler
The Massachusetts Business Confidence Index dropped two points to 46.4 in October, the fifth decline for the index in the past six months.
The monthly reading fell from a 2011 high of 56.1 in April and 55.3 in October 2010.
The Associated Industries of Massachusetts, which publishes the BCI, said weak consumer spending is hampering business confidence.
The survey was completed, however, before announcements of a relatively positive 2.5 percent national economic growth in the third quarter, and news of a potential compromise to solve the European debt crisis.
The Futures Index, which asks business owners to predict the coming six months, fell three points to 45.
The indices are based on a 100-point scale with 0 being the worst score.
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