Business Confidence Slumps In February
The Associated Industries of Massachusetts Business Confidence Index fell by 1.7 points in February to 44.1.
The decrease was the index's first since last June. A score of 50 is considered neutral. The index hit its all-time low of 33.3 in February 2009.
AIM said the February slump "reinforces the point that we have to expect a protracted and halting recovery process...we are still some distance from robust growth."
The Current Index, which asks businesses to assess overall conditions at the time of the AIM survey, was down 1.6 points to 40 and the Future Index lost 1.5 points and ended the month at 48.4.
The U.S. Index, which asks companies to assess the national business situation, fell 3.8 points to 36.7.
The economy is "quite poor nationally and scarcely better in Massachusetts for most companies," AIM said.
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