Central Mass. business confidence falls as the state’s hits two-year high
Photo | Courtesy of Trelleborg
Central Massachusetts business confidence declined in October, remaining in pessimistic territory.
Business confidence in Massachusetts hit a two-year high in October, but in Central Massachusetts, confidence fell deeper into pessimistic territory.
The state’s Business Confidence Index rose 2.3 percentage points last month to 55.5, while the Central Massachusetts index sank 1.4 percentage points from 49.8 to 48.4, according to a Tuesday press release from the Associated Industries of Massachusetts.
The region’s index was the lowest in the state for the fifth consecutive month and was the only region in pessimistic territory in October. The Western Massachusetts Business Confidence Index fell 8.3 percentage points to 51.9, boomeranging from its 10.2 percentage point increase in September. The North Shore Confidence Index was the only one to rise in October, gaining 10.6 percentage points resulting in a score of 61.6.
The AIM index pulls from a survey of more than 140 Massachusetts employers and is scored from a 100-point scale; a score of above 50 represents an optimistic outlook and a score below 50 represents a pessimistic outlook.
The business confidence survey was conducted prior to the Nov. 5 election.
“Economic growth in the third quarter came close to the 3.0% annualized growth rate in the second quarter and was the latest indication that the surprisingly durable expansion remains on solid footing,” Sara Johnson, chair of the AIM Board of Economic Advisors, said in the release.
Business confidence among employers in their own companies rose for the second month in a row, rising 2.1 points to 56.3 in October while index assessing business conditions throughout the state also rose for the second consecutive month, climbing 2.1 points to 54.2.
Medium-sized companies continued to be more optimistic than larger companies, scoring a 58.1 index and 53.1 index, respectively.
The manufacturing index, typically the lowest scoring constituent assessed, held steady for the second month in a row at 50.5 in October after reaching its highest score in six months in September.
Mica Kanner-Mascolo is a staff writer at Worcester Business Journal, who primarily covers the healthcare and diversity, equity, and inclusion industries.
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