January 2, 2008
Mass. Businesses End Year With Little Confidence
By Matthew L. Brown
The Associated Industries of Massachusetts Business Confidence Index ended 2007 at its lowest level since 2003.
The index fell a tenth of a point in December and finished the year at 53.5, the lowest it's been since October 2003. Employers in Massachusetts said they had mostly negative feelings about business conditions here, but said they did not expect further deterioration of business conditions in the first half of 2008.
The December decline was the index's fourth in the last five months. AIM said the steady drop "reflects a slowing economy overall as well as more serious problems in certain sectors." Despite reporting "mostly negative" feelings, AIM pointed out that 53.5 is still technically a "positive" reading on its 100-point scale. Also, business conditions in Massachusetts compared favorably to conditions nationwide. AIM said the Massachusetts index in the U.S. index of national conditions dropped by a half point in December while the national index fell by 3.9 points.
The index fell a tenth of a point in December and finished the year at 53.5, the lowest it's been since October 2003. Employers in Massachusetts said they had mostly negative feelings about business conditions here, but said they did not expect further deterioration of business conditions in the first half of 2008.
The December decline was the index's fourth in the last five months. AIM said the steady drop "reflects a slowing economy overall as well as more serious problems in certain sectors." Despite reporting "mostly negative" feelings, AIM pointed out that 53.5 is still technically a "positive" reading on its 100-point scale. Also, business conditions in Massachusetts compared favorably to conditions nationwide. AIM said the Massachusetts index in the U.S. index of national conditions dropped by a half point in December while the national index fell by 3.9 points.
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