BOSTON Companies in Massachusetts have more faith that the state’s economy is doing well, according to the latest Business Confidence Index from the Associated Industries of Massachusetts.
The index rose 3.9 points last month to an overall mark of 52.2. Anything above 50 is considered positive territory.
July’s gain followed a 8.5-point drop in June, the second-largest monthly loss in the index’s 21-year history.
Though the index recouped almost half of June’s loss, AIM Vice President Andre Mayer said businesses and consumers should still be cautious.
“I wouldn’t say this is a sign of real health,” Mayer said. “It’s been very volatile because there’s been positive and then negative news from Europe, a lot of concerns about federal fiscal policy here in the United States.
“Many companies are doing all right just now, but the uncertainty about the future really does weigh on how employers think about their businesses.”