Central Mass. business confidence again scores optimistic on future
The Worcester skyline, as taken from the offices of Fallon Health
The Central Massachusetts Business Confidence Index rose back to optimistic territory in November to score 53.5.
While that is an increase of 5.6 points over October’s pessimistic figure of 47.8, it is still less than the statewide confidence of 58.7, according to a Monday announcement from the Associated Industries of Massachusetts.
AIM’s Business Confidence Index on the statewide and regional levels is calculated on a 100-point scale with 50 being neutral and a score of over 50 being positive. When the Central Mass. index hit 47.8 in October, it was the lowest score in the past 12 months.
“Industrial commodity prices have fallen by one-third from their early March peak, so manufacturers are seeing significant easing of cost pressures,” said Sara Johnson, chair of AIM’s board of economic advisors “Continued slow growth in China is also helping to reduce energy prices. Businesses may see ‘light at the end of the tunnel’ and are focusing on market growth and investment opportunities beyond 2023.”
The Central Massachusetts index is calculated through a partnership of the Worcester Regional Chamber of Commerce and AIM.
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