Business Confidence In Mass. Sags In February

An index measuring business confidence in Massachusetts has fallen slightly but still shows that most employers remain hopeful about future economic conditions.

Associated Industries of Massachusetts said Tuesday that its Business Confidence Index dropped four points in February to stand at 51.2. The index works on a scale of 100, with any reading above 50 indicating that employers are more optimistic than pessimistic about the economic environment.

The chairman of AIM's Board of Economic Advisors, Raymond Torto, says last month's drop appears to reflect frustration with a "lack of sustained progress" in improving the economy. But the group points out that the index stands more than seven points higher than a year ago at this time and nearly 18 points above its all-time low of 33.3 in February 2009.