March 4, 2008
Mass. Businesses Grit Teeth As Confidence Wanes
By Matthew L. Brown
The Associated Industries of Massachusetts Business Confidence Index hit 50.2 in February, its lowest reading since 2003.
However, AIM's Company Index hit 54, a gain of nearly a point, as businesses surveyed said they were prepared to deal with "a deteriorating economic climate." Also, manufacturers, especially those outside Greater Boston, were more confident than other businesses because the weak dollar has prompted increased exports, which has offset some of the weakness in the American market.
The index's overall 50.2 reading is considered neutral by AIM economists. The Current Index for business conditions at the time of the survey hit an even 50 and the Future Index, which asks respondents to consider business conditions six months ahead, hit 50.6.
However, AIM's Company Index hit 54, a gain of nearly a point, as businesses surveyed said they were prepared to deal with "a deteriorating economic climate." Also, manufacturers, especially those outside Greater Boston, were more confident than other businesses because the weak dollar has prompted increased exports, which has offset some of the weakness in the American market.
The index's overall 50.2 reading is considered neutral by AIM economists. The Current Index for business conditions at the time of the survey hit an even 50 and the Future Index, which asks respondents to consider business conditions six months ahead, hit 50.6.
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