December 4, 2007
Business Confidence Down in Bay State
A monthly survey of businesses in Massachusetts found that the economy has some a little worried.
The Associated Industries of Massachusetts Business Confidence Index dropped 1.6 points in November to 53.6. AIM said survey respondents are worried that declining home prices and other financial problems could lead to a serious economic downturn. Respondents were more positive about their own companies' situations.
The downturn was driven by companies in Greater Boston, where confidence was down 3.1 percent. In the rest of the state, the numbers were up marginally, but AIM said the regional indexes don't point to a clear trend.
Confidence fell most among manufacturers, down 2.4 percent.
The index is based on a monthly survey of AIM member companies and reported on a 100-point scale.
The Associated Industries of Massachusetts Business Confidence Index dropped 1.6 points in November to 53.6. AIM said survey respondents are worried that declining home prices and other financial problems could lead to a serious economic downturn. Respondents were more positive about their own companies' situations.
The downturn was driven by companies in Greater Boston, where confidence was down 3.1 percent. In the rest of the state, the numbers were up marginally, but AIM said the regional indexes don't point to a clear trend.
Confidence fell most among manufacturers, down 2.4 percent.
The index is based on a monthly survey of AIM member companies and reported on a 100-point scale.
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