Business Confidence Improves In July
The Associated Industries of Massachusetts Business Confidence Index rose 1.9 points in July, a sign that the state's economy may be stabilizing.
The index hit 40.1 during the month and has increased in four of the last five months. July's score is the first time the index has been above 40 since last November. A score of 50 on the index is considered neutral. Scores above 50 indicate growth while scores below 50 indicate contraction.
AIM economists said the July score "may mark the bottom of the downturn," but that the score reflects stabilization of the financial system "rather than the beginning of the return to significant growth."
About 25 percent of AIM members predicted a slow, "jobless" recovery for the state economy and 45 percent expect the pace of the economic rebound to vary greatly among economic sectors.
AIM's index of current business conditions jumped 10.2 points to 43.2 during the month and its index of expected conditions for the next six months improved slightly to 44.5.
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