BOSTON (AP) – Some employers in Massachusetts appear to be losing a bit of the confidence they once had in the economic recovery.
Associated Industries of Massachusetts said Tuesday that its monthly Business Confidence Index slipped 4.4 points in May to stand at 51.7.
Economists for the group said the drop could be attributable to a series of reports pointing to a sputtering recovery, with disappointing economic growth and job creation and continued weakness in manufacturing and real estate.
Despite the drop in the index, AIM points out that the 51.7 reading still shows overall optimism among employers surveyed. The index works on a 100 point scale, with any reading above 50 signaling more optimism than pessimism about the economy.
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