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We all know 2008 was a tough year for the economy, both locally and nationally. But a new survey helps put things into some historical perspective to show just how bad the state’s business climate really is.
Today’s Boston Business Journal reports that the Associated Industries of Massachusetts (AIM) Business Confidence Index (BCI) took a huge hit in 2008, falling to its lowest level in the 17 years that AIM has been tracking these figures. The BCI fell 5.5 points in December to finish the year at 36.3, easily shattering the previous monthly low of 41.4 recorded in October of 2008 and capping a 17.2-point drop for the year. You’d have to go all the way back to the 1991-1992 recession to find anything even remotely resembling the latest index ranking (the index stood at 41.5 in December of 1991).
Today’s Boston Business Journal reports that the Associated Industries of Massachusetts (AIM) Business Confidence Index (BCI) took a huge hit in 2008, falling to its lowest level in the 17 years that AIM has been tracking these figures. The BCI fell 5.5 points in December to finish the year at 36.3, easily shattering the previous monthly low of 41.4 recorded in October of 2008 and capping a 17.2-point drop for the year. You’d have to go all the way back to the 1991-1992 recession to find anything even remotely resembling the latest index ranking (the index stood at 41.5 in December of 1991).
Just another reason why it makes sense for the Commonwealth to repeal the $500 million corporate tax increase as soon as possible.
