Business Confidence Wanes For Second Straight Month
The confidence of employers in Massachusetts declined for the second straight month in August, according to the Associated Industries of Massachusetts Business Confidence Index.
The index lost nearly a full point to end the month at 47.7 after losing 5.2 points between June and July. July and August were the first two consecutive months of decline since early last year.
For two months before July, the index had been above the neutral 50 score.
AIM said "the outlook is cloudy, not stormy." It said consumer confidence remains weak and businesses are concerned about the state of the national economy.
Respondents to the survey used by AIM to calculate the index said they expect slow recovery over the next six months rather than a "double-dip" recession.
August business confidence was up 7.1 points from the same month a year ago.
The index's all-time high reading was 68.5 in 1997 and 1998. Its lowest was 33.3 registered in February 2008.
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