Business confidence rises
Business confidence in Massachusetts ended a three-month slump in September, ticking upwards based in part on optimism among non-manufacturing companies.
The Associated Industries of Massachusetts Business Confidence Index rose 1.8 points to 55.9 -- scores above 50 are considered in positive territory. It's the same level of business confidence recorded by the AIM index a year ago, in September 2015.
The trade group's index assessing business conditions in Massachusetts lost 0.3 points in September and the increase in confidence was driven by a 3.1-point surge in the company index, which gauges how employers feel about business conditions at their own companies.
The overall business confidence level at manufacturing companies in September was 50.9, compared to 61.1 at non-manufacturing companies.
"Employers remain ambivalent about both the U.S. and national economies ahead of the presidential election, but companies clearly have regained a sense of buoyancy about their own futures," Michael Tyler, chief investment officer at Eastern Bank Wealth Management, said in a statement released by AIM.
Nearly 39 percent of employers surveyed reported adding jobs in the past six months while 19 percent said they reduced employment.
The Massachusetts unemployment rate dropped to 3.9 percent in August, the first time it has fallen below 4 percent in 15 years.
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