Mass. employer confidence was steady in February

Courtesy Associated Industries of Massachusetts Business Confidence Index has been conducted for more than 100 years.

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By Sam Bonacci

Ahead of the local impacts of the coronavirus and the stock market’s major fluctuations, Massachusetts employer confidence was steady.

The Associated Industries of Massachusetts Business Confidence Index (BCI) released Tuesday found optimism among employers, with a score of 62.1 just 0.2 points down from January but also 3.9 points higher than the previous year. This score puts employer confidence well within optimistic territory, according to the index.

However, AIM expects that confidence to fall in March. Already, February confidence reflected weakening employer views about conditions six months out and about prospects for their own companies.

“The underlying indicators of the U.S. and Massachusetts economies remain strong, but fallout from COVID-19 introduces a huge amount of uncertainty into the economic picture,” said Raymond Torto, professor at the Harvard Graduate School of Design and chair of AIM's board of economic advisors.

The AIM Index, based on a survey of more than 100 Massachusetts employers. It is calculated on a 100-point scale, with 50 as neutral; a reading above 50 is positive, while below 50 is negative. The index has remained above 50 since October 2013.