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February 5, 2008

Business Confidence Dwindles In Jan.

The Associated Industries of Massachusetts ' Business Confidence Index nearly dropped into overall negativity in January, indicating that the state may be on "the edge of recession."

While the overall confidence level was still barely positive, above 50 on the 100-point scale, Massachusetts employers rated current business conditions negatively. Employers said conditions in the state were slightly worse than those prevailing nationally.

AIM was most concerned about the 3.5-point loss of the Current Index, which dropped to 49.6, below 50 for the first time since October 2003. Also, the Future Index, assessing conditions six months ahead, lost two points to 51.8, still technically positive, but its lowest reading since May 2003.

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