October 2, 2007
Cold September for AIM confidence
By Matthew L. Brown
The Associated Industries of Massachusetts Business Confidence Index fell for the third consecutive month in September.
The index fell by 1.5 points to 54.7 in September as the mortgage industry continued its meltdown and home prices continued their skid, "casting doubt on the future course of the economy," AIM said.
Confidence in national economic conditions was the biggest loser in the September index, falling 4.1 points to 51.3. The Massachusetts index was down 3.3 points to 49.9.
AIM said confidence among manufacturers was up 2.5 points to 56.9 while confidence among non-manufacturers "plummeted" eight points to 50.3.
AIM said the disparity between the results from the manufacturing and non-manufacturing sectors "suggests that these negative developments are seen as having a broad but not necessarily pervasive impact on the economy."
The index fell by 1.5 points to 54.7 in September as the mortgage industry continued its meltdown and home prices continued their skid, "casting doubt on the future course of the economy," AIM said.
Confidence in national economic conditions was the biggest loser in the September index, falling 4.1 points to 51.3. The Massachusetts index was down 3.3 points to 49.9.
AIM said confidence among manufacturers was up 2.5 points to 56.9 while confidence among non-manufacturers "plummeted" eight points to 50.3.
AIM said the disparity between the results from the manufacturing and non-manufacturing sectors "suggests that these negative developments are seen as having a broad but not necessarily pervasive impact on the economy."
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