Employer confidence in the Massachusetts business climate climbed slightly last month, according to data released today by Associated Industries of Massachusetts (AIM).
AIM’s business confidence index rose from 50.2 in December to 50.8 in January, with a 50 rating on the 100-point scale representing a neutral assessment. Business confidence was at 50.4 at this time last year.
“The ongoing strengthening of the economy still feels more like a prolonged convalescence than like robust health,” said Raymond Torto, global chairman of research at CBRE. “For all the progress we have made, business confidence remains vulnerable.”
Most of AIM’s sub-indices edged up slightly in January, with the exception of the employment index, which fell slightly, and confidence among manufacturers, which fell by 3.5 points to 50.6.
The U.S. Index of business confidence climbed 2 points, closing the gap with its Massachusetts counterpart.
“The U.S. Index had been held down by political threats such as the ‘fiscal cliff’ and the (partial federal government) shutdown, now in the past; and the state’s unemployment rate is now above the national rate,” said Andre Mayer, AIM senior advisor.
A quarter of employers reported cutting jobs over the past six months, the survey found, while just 19 percent reported growing the size of their workforce.
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