Central Mass. business confidence falls below state average in March
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Business confidence in Central Massachusetts hit its lowest point in March since the confidence index was created in November.
After a streak of above-average business confidence, Central Massachusetts business owners’ optimism slipped in March.
The Central Massachusetts Business Confidence Index recorded a 55.1 measurement for March, down from 58.1 in February, according to a Monday press release from the Worcester Regional Chamber of Commerce.
The figure was lower than the previous month, and lower than the statewide average confidence reading, which was 57.2.
Although March saw a dip in confidence, any rating over 50 is considered optimistic, according to the Associated Industries of Massachusetts, the trade organization which created the 100-point scale for the state.
March’s reading was the lowest it’s been since the regional metric was created in November. Central Massachusetts has generally trended above state averages for business confidence since the local metric was created.
“We see a familiar pull and tug in the confidence reading between solid levels of confidence in the underlying economy and concerns about a multitude of geopolitical, resource, cost, and public-health issues,” said Sara Johnson, chair of the AIM board of economic advisors, in a statement.
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