July 5, 2007
State businesses "moderately positive"
By Matthew L. Brown
The Associated Industries of Massachusetts Business Confidence Index fell by three points in June, erasing gains it had made in May.
In June, the index fell to 54.2, the association said. The drop is "attributable in part to tax controversy, rising interest rates and energy costs and a deteriorating housing market," the association said.
Although June's index was down from May's, the 54.2 score was still a point above the index for June 2006, the association said. The three month average of 55.1 "makes the quarter just concluded the weakest since the fourth quarter of 2003," the association said.
Sales, employment and company indexes, which are the results of surveys of Massachusetts businesses, were down between 1.5 and 3.2 points for June, AIM said.
AIM said the survey reflected more confidence in the U.S. economy than in the state economy. The association said the most recent index was "moderately positive."
In June, the index fell to 54.2, the association said. The drop is "attributable in part to tax controversy, rising interest rates and energy costs and a deteriorating housing market," the association said.
Although June's index was down from May's, the 54.2 score was still a point above the index for June 2006, the association said. The three month average of 55.1 "makes the quarter just concluded the weakest since the fourth quarter of 2003," the association said.
Sales, employment and company indexes, which are the results of surveys of Massachusetts businesses, were down between 1.5 and 3.2 points for June, AIM said.
AIM said the survey reflected more confidence in the U.S. economy than in the state economy. The association said the most recent index was "moderately positive."
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