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Business confidence in Massachusetts bounces back in November to 14-month high

BCI Index factors

The constituent indicators that make up the Associated Industries of Massachusetts Business Confidence Index were mostly higher during November.

BOSTON — The Associated Industries of Massachusetts' Business Confidence Index reached a 14-month high in November, surging 7.8 points to 58.7 to finish the month comfortably in optimistic territory.

The index is now at its highest level since September 2021 and is 0.8 points better than a year ago.

Economists cautioned against reading too much into monthly changes to the index, but said the numbers provide some evidence that the Massachusetts economy appears to be riding out the broader national economic slowdown.

“Friday’s report that U.S. employers added 263,000 jobs during November underscores a continued demand for workers despite the Federal Reserve’s push to increase interest rates," said Sara L. Johnson, chair of the AIM board of economic advisers. "Even though interest-rate sensitive sectors such as real estate have slowed, employers remain remarkably confident in the prospects of their own companies.” 

The Massachusetts index assessing business conditions within the commonwealth gained 5.6 points to 56.2, down 1.1 points from a year earlier. The U.S. index, which measures conditions throughout the country, rose 5.7 points but remained in pessimistic territory at 48.6.

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