Study: Mass. business confidence ebbs slightly
As political uncertainties grow near the start of the fall election season, business confidence in Massachusetts fell slightly in August, according to the Associated Industries of Massachusetts (AIM).
AIM’s Business Confidence Index lost two points in August to 54.2, while remaining well above its level of a year before (48.7), it said. Any reading above 50 indicates more optimism than pessimism.
“Historically, the index has declined in August more often than not,” said Raymond G. Torto, chair of AIM's Board of Economic Advisors (BEA), in a statement. “Economic indicators for the month – financial markets, employment, consumer confidence, the (Institute for Supply Management’s) manufacturing index – have been generally positive. On the downside is international news, including conflict in the Middle East and Ukraine and economic problems in Europe.”
However, the Company Index, reflecting survey respondents' assessments of conditions for their own operations, rose 4.1 points on the year to 56.5. The Employment Index was also up 5.4 to 54.1; and the Sales Index, , was up 4.6 points to 58.5, AIM said.
“We continue to see a moderate upward trend in the employment results,” said BEA member Alan Clayton-Matthews, professor at the School of Public Policy and Urban Affairs at Northeastern University in a statement. “The great majority (69 percent) of employers responding to the survey planned to stand pat on staffing over the next six months, but those expecting to add personnel outnumbered those foreseeing reductions by almost three to one.”
WBJ Web Partners
Most Recent
Most Recent
0 Comments