Is business unstable? The United State's local businesses' view of the economy fell to an all-time low of 35 points in consumer confidence. The lowest in its 17-year history, according to Associated Industries business confidence index.This could be a clear indication that businesses and consumers are unstable and insecure. Business confidence in Mass. dropped 4.3 points in July to 44.6, the lowest reading in Massachusetts since May '03. This is according to The Associated Industries of Mass. Business Confidence index. Their national survey portrays an even more horrific number, 35. Massachusetts Insight President William Guenther states, "Bad as it is, Mass. is faring better than other places."
According to Mass Insight, a research and consulting firm, the Mass. consumer confidence index dropped to the lowest levels in the survey's history. It has been in a steady decline since April '07, and has dropped down to 50. Mass. looks bad, but it could be worse. The New England consumer confidence index has dropped to 27. Just two points shy of the all time low in October '90.
To read the Boston Globe article, click here.
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