BOSTON — Confidence among Massachusetts employers edged close to pessimistic territory in June as businesses struggled with surging inflation and concerns about a possible recession.
The Associated Industries of Massachusetts Business Confidence Index fell 3.9 points to 50.8. The Index now rests 12.6 points lower than a year ago and marginally higher than the 50 mark that separates an optimistic from a pessimistic view. The index is tabulated on a 100-point scale; anything over 50 is considered positive and any number under 50 negative.
The decline, which left the index at its lowest point since December 2020, reflects particular concern about the course of both the state and national economies. The BCI’s U.S. Index plummeted 9.1 points for the month and more than 20.3 points for the year.
The confidence numbers came at a time when 76 percent of CEOs globally tell The Conference Board that they expect a recession by the end of 2023 or believe it’s already here.