BOSTON (AP) — A survey of business confidence in Massachusetts shows the second largest monthly drop in the index’s 21-year history.
Associated Industries of Massachusetts says its survey of its members showed an 8.5 point drop from May. The group reported Monday that the overall reading of 48.3 out of 100 was the monthly index’s lowest since October.
The chair of AIM’s Board of Economic Advisers, Raymond Torto, says that while the economy is in much better shape than three years ago, it’s still fragile and employers are aware of threats and uncertainties.
As examples, he cited financial troubles in Europe and negative reports on employment, industrial production and retail in the United States.
(Copyright 2012 by The Associated Press. All Rights Reserved.)
Did any notice U.S. GDP has fallen to 1.9%? According to WSJ, it would be .9% except for sales of new autos this spring. Pretty lme numbers.