Survey Finds Business Confidence In Mass. Flagging
A new survey finds many employers remain skeptical about the direction of the economy. Associated Industries of Massachusetts said Tuesday that its business confidence index fell in September for the fourth time in five months. The index slipped eight-tenths of a point to stand at 48.4.
The index works on a scale of 100, with readings below 50 indicating businesses are more pessimistic than optimistic about the economy.
Economist Raymond Torto says employers surveyed by AIM believe the recovery will be weak and worry that political gridlock — in the U.S. and abroad — could plunge the world into another recession.
"What the business confidence survey is reflecting is a lack of confidence in leadership, at the executive and congressional level, both in this country and in Europe," he said.
But Torto pointed out that the September index was eight-tenths of a point higher than it was a year ago and has risen six full points in the last two years.
With reporting by The Associated Press and the WBUR Newsroom
This program aired on October 4, 2011. The audio for this program is not available.