The Associated Industries of Massachusetts‘ Business Confidence Index hit an all-time low in December.
AIM reported that the index dropped 5.5 points to 36.3 during the month. The index hit 53.5 in Dec. 2007.
“The state’s economy managed to sustain some growth through the first three quarters of the year, but there is no doubt that we are now following the nation into recession,” said Alan Clayton-Matthews, a UMass Boston economist and member of AIM’s board of economic advisors.
AIM bases the index on a survey of its members. Respondents were only slightly less negative about business conditions in Massachusetts than national business conditions.
