Central Mass. business confidence rose in April, following statewide trends
Photo | Associated Industries of Massachusetts
After a drop in March, Central Massachusetts business confidence rose to 56.9 in April.
Business confidence among Central Massachusetts employers increased in April by 1.8 points from March, according to a Monday press release from the Associated Industries of Massachusetts.
The Central Massachusetts Business Confidence Index rose to 56.9 in April, up from 55.1 in March, which was the lowest confidence had been in 2022.
The statewide average also rose in April, and was about 1 percentage point higher than the Central Massachusetts rating, according to the release. It was also lower than the North Shore Confidence Index, which was 61.8 in April.
Any reading above 50 is considered optimistic.
Rising confidence contrasted with other economic indicators, as real GDP declined at an annual rate of 1.4% nationally and 1% in Massachusetts during the first quarter, per AIM’s release.
“We continue to see signs of economic growth, from healthy jobs numbers to surging state business-tax collections. The Federal Reserve’s half-point interest-rate increase last week could have a dampening effect going forward, but companies in the survey remain confident in their prospects during the next six months,” Timothy Murray, president and CEO of the Worcester Regional Chamber of Commerce, said in a written statement.
Associated Industries of Massachusetts partners with regional chambers of commerce, including the Worcester Rchamber, to release the monthly regional confidence index reports.
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