Business Confidence Ends Year At 12-Month High
The Associated Industries of Massachusetts' Business Confidence Index ended the year on a high note, rising by nearly a full point in December to 45.7.
The previous month, the index hit 44.9. The December increase was the index's sixth consecutive monthly increase and the ninth in the 10 months since hitting its all-time low of 33.3 in February.
A score of 50 is considered "neutral." The last year the index averaged over 50 was 2007 when its average score was 55.6. In 2009, the average score was 39.4. In 2008, it was 46.2.
AIM warned that although the economy is improving, only 27 percent of businesses surveyed for the index called conditions at their companies "good."
AIM's Future Index, which asks businesses to predict prospects for the next six months inched ahead to 49.6.
"Indications are the recovery will be long, slow and uneven," AIM said.
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