Mass. Businesses Lose Confidence In July
The Associated Industries of Massachusetts' Business Confidence Index took a 5.2-point tumble to finish July below the neutral 50 score.
The index hit 53.7 in June, but dropped to 48.5 in July. That's the index's most significant setback since it bottomed out at just over 33 in February 2009.
July's reading was 3.7 points better than the same month a year ago. The index's all-time high was 68.5 registered in 1997 and 1998.
AIM said July's disappointing results confirm that Massachusetts employers have serious doubts about the staying power of the economic recovery.
All of the sub-indices that make up the Business Confidence Index declined during the month. The results "reaffirm our expectation that this recovery would be long and halting," AIM said.
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