Business Confidence Index Rises

BOSTON — The Associated Industries of Massachusetts Business Confidence Index rose 1.8 points in May to 54.8, its highest reading since August 2012, when the reading was 55.2, AIM announced recently. In May 2013, the index posted a reading of 52.1. “With its gains in April and May, the index appears to have broken out of the narrow range within which it had fluctuated for the previous 18 months,” said Raymond Torto, chair of AIM’s board of economic advisors. “Economic conditions have been improving at the state and national levels, and in fact globally, but until now, sentiment among Massachusetts employers has lagged behind. As a higher level of confidence becomes established, we should see more investment and job creation in our Commonwealth.”