Mass. Business Confidence Stalls
Confidence among businesses in Massachusetts slowed in March after four consecutive monthly gains, according to Associated Industries of Massachusetts (AIM).
AIM's monthly Business Confidence Index registered a 54.8 on a 100-point scale, a slight drop from February's reading of 54.9. "The question is whether this is a brief pause in upward movement, a plateau or even the beginning of a decline," said Raymond G. Torto, global chief economist at CB Richard Ellis Group Inc., chair of AIM's board of economic advisors (BEA). "What we have been seeing via the index is a recovery that is real but has not become robust - marked by halting improvement over the past 21 months, very uneven performance across economic sectors, and an extended period of limited job creation. Massachusetts employers indicated that they are expecting a continuation of that pattern through most of this year."
Responses to certain questions revealed "good" or "average" business conditions among employers, "but some continue to face serious challenges, and many are aware of economic and political uncertainties ahead," said Fred Breimyer, regional economist for the Federal Deposit Insurance Corporation and a BEA member. On the other hand, Breimyer said, "Survey respondents have rated Massachusetts conditions positively each month since January, however, and the state indicator is still running above its national counterpart, as it has been for four years."
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