June 5, 2007
State Business Confidence Index up in May
By Cory Hopkins
The Associated Industries of Massachusetts Business Confidence Index rose 3.3 points last month to its highest level in nearly a year.
The index rose to 57.2. A reading above 50 on the 100-point scale indicates state employers are generally optimistic about business conditions in the state, according to a report issued by AIM.
"Economic data has been a mix of good news (the stock market gains, state employment) and bad (the housing market, national economic growth)," said Richard Lord, AIM's president and CEO. "Signals from state government have been similarly mixed, as some very positive messages have been weakened by adverse tax proposals and anti-employer legislation."
The study also concluded that confidence increased sharply in May for non-manufacturers, up 4.8 points to an even 57. Confidence levels among manufacturers rose more slowly, only two points, to 57.2.
AIM's monthly business confidence index is based on a survey of member companies across the state. The survey asks respondents questions about current and prospective economic conditions, both statewide and nationally.
The index rose to 57.2. A reading above 50 on the 100-point scale indicates state employers are generally optimistic about business conditions in the state, according to a report issued by AIM.
"Economic data has been a mix of good news (the stock market gains, state employment) and bad (the housing market, national economic growth)," said Richard Lord, AIM's president and CEO. "Signals from state government have been similarly mixed, as some very positive messages have been weakened by adverse tax proposals and anti-employer legislation."
The study also concluded that confidence increased sharply in May for non-manufacturers, up 4.8 points to an even 57. Confidence levels among manufacturers rose more slowly, only two points, to 57.2.
AIM's monthly business confidence index is based on a survey of member companies across the state. The survey asks respondents questions about current and prospective economic conditions, both statewide and nationally.
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