BOSTON — Business confidence continued to rebound during June as Massachusetts methodically reopened its economy and COVID-19 cases surged elsewhere in the country.

The Associated Industries of Massachusetts (AIM) Business Confidence Index rose 6.9 points to 49.0, just a point shy of the level that denotes an optimistic outlook among employers.

The increase, which came three months after the index suffered the largest one-time decline in its history, reflected the relatively smooth rollout of the state’s four-step reopening plan and progress in containing the COVID-19 pandemic.

Confidence was closely linked to where a company was on the reopening schedule. Manufacturing companies, many of which have operated throughout the pandemic as essential businesses or were among the first companies to reopen, were more confident than retail companies and restaurants that had to wait until late June to welcome back customers.

“Companies certainly want to reopen as soon as possible and hire back some of the 1 million Massachusetts residents who lost their jobs during the pandemic. At the same time, the flareup of COVID-19 cases in states that opened aggressively seems to underscore the value of moderation,” said Raymond Torto, professor at the Harvard Graduate School of Design and chair of AIM’s Board of Economic Advisors (BEA).

The constituent indicators that make up the Business Confidence Index were uniformly higher during June. Employers’ confidence in their own companies rose 5.9 points to 51.6, moving into optimistic territory for the first time since the COVID-19 shutdown.

The Massachusetts Index assessing business conditions within the Commonwealth increased 9.4 points to 46.8, leaving it 14.4 points lower than in June 2019. The U.S. Index measuring conditions nationally gained 7.7 points to 43.7, a drop of 14.3 points during the year.

The Current Index, which assesses overall business conditions at the time of the survey, surged 10.2 points to 46.3. The Future Index, measuring expectations for six months out, rose 3.6 points to 51.8. The Employment Index increased 1.8 points in May, while the Sales Index, a leading indicator, gained 11.4 points to 51.7.

Manufacturing companies (49.4) were slightly more confident than non-manufacturers (47.8). Small companies (50.1) were more optimistic than medium-sized companies (49.2) or large companies (46.3). Companies in Eastern Mass. (49.4) were more optimistic than those in Western Mass. (48.5).

Michael Goodman, professor of Public Policy at UMass Dartmouth and a BEA member, said the Massachusetts job picture brightened slightly during the past month as employers began to resume business operations, but that the state economy continues to face significant challenges and uncertainty.

“In addition to its massive disruption to our daily social and economic life, the pandemic presents a significant threat to what are typically two of the Commonwealth’s most stable counter-cyclical employers — healthcare and higher education,” Goodman said. “This will make it more difficult to recover quickly this time, even if we manage to avoid a projected second wave of the COVID-19 virus later this year.”

AIM President and CEO John Regan, also a BEA member, said employers hope Massachusetts can continue to reopen its economy without the surge in COVID-19 cases being seen in states like Texas and Florida.

“Essential companies and early-stage reopening companies continue to operate in a safe and efficient manner,” he noted. “The manufacturing sector in particular has adapted to new safety regulations in a way that should allow business to remain open and put people back to work.”

BOSTON — The Associated Industries of Massachusetts (AIM) Business Confidence Index gained 3.7 points to 42.1 two months after suffering the largest one-time decline in its history. The increase left the Index 15 points lower than in May 2019 and well below the 50-point mark denoting an optimistic outlook on the economy.

The rise in confidence came as Massachusetts Gov. Charlie Baker announced a four-phase process for reopening the state economy under strict workplace-safety guidelines. Employers hope a timely return to business will allow them to rehire some of the 1.2 million Massachusetts residents who have filed for unemployment since the onset of the pandemic.

“Employers are encouraged that Massachusetts has been able to moderate the number of new COVID-19 cases. We have said all along that the current economic crisis is being driven by the public-health crisis, and that’s what we see here,” said Raymond Torto, professor at the Harvard Graduate School of Design and chair of the Board of Economic Advisors (BEA).

The constituent indicators that make up the Business Confidence Index were uniformly higher during May. Employers’ confidence in their own companies rose 3.9 points to 45.7. The Massachusetts Index assessing business conditions within the Commonwealth increased 2.9 points to 37.4, leaving it 23.5 points lower than in May 2019. The U.S. Index measuring conditions nationally gained 3.9 points to 36.0, a drop of 19.0 points during the year.

The Current Index, which assesses overall business conditions at the time of the survey, was up 4.9 points to 36.1. The Future Index, measuring expectations for six months out, rose 2.6 points to 48.2. The Employment Index increased 3.5 points in May, while the Sales Index, a leading indicator, gained 2.1 points to 40.3.

Manufacturing companies (42.4) were slightly more confident than non-manufacturers (41.5). Medium-sized companies (44.0) were more optimistic than both large companies (40.4) and small companies (41.3). Companies in Eastern Mass. (44.3) were more optimistic than those in Western Mass. (38.6).

Elliot Winer, chief economist at Winer Economic Consulting and a BEA member, said any uptick in employer sentiment is important at a time when the COVID-19 virus caused the Massachusetts economy to contract at an estimated 6.1% annual rate during the first quarter.

“The fact that the Future Index is 12 points higher than the Current Index suggests that some employers believe they will be able to resume acceptable business volume as long as the virus remains under control,” Winer said.

AIM President and CEO John Regan, also a BEA member, said Baker’s deliberate reopening plan marks an encouraging first step to reopening the state economy in a safe and efficient manner.

“We realize that every employer in Massachusetts would love to hear that they can reopen immediately. But we also acknowledge that a phased reopening balances the need to restart the economy with the need to manage a public-health crisis that continues to claim many lives a day in Massachusetts,” Regan said. “Any decision by government to lift of the prohibition on non-essential businesses will be just the beginning for Massachusetts employers, who will in many cases need to reconfigure workplaces for social distancing and determine how to implement other safety measures, such as the wearing of protective equipment, continuing work-from-home policies, and ensuring the health of workers and customers.”

BOSTON — Confidence among Massachusetts employers continued to erode during April as the Commonwealth became a hotspot for COVID-19 and Gov. Charlie Baker extended the closing of non-essential businesses until mid-May.

The Associated Industries of Massachusetts (AIM) Business Confidence Index fell 1.8 points after suffering its largest monthly decline ever during March. The Index ended April at 38.4, nearly 22 points less than a year ago and five points above its all-time low set during the Great Recession in 2009.

The sustained confidence slide reflects the idling of significant portions of the economy as health officials work to stem to spread of the novel coronavirus. The economic fallout has been widespread — more than 893,000 people have filed for unemployment benefits in Massachusetts during the past six weeks.

“Confidence remains at a pessimistic level even as portions of the nation begin to announce plans to gradually re-open their economies. But a meaningful rebound in confidence will depend on a still-uncertain balance of public-health factors and economic ones,” said Raymond Torto, professor at the Harvard Graduate School of Design and chair of the Board of Economic Advisors (BEA).

The AIM Index, based on a survey of more than 140 Massachusetts employers, has appeared monthly since July 1991. It is calculated on a 100-point scale, with 50 as neutral; a reading above 50 is positive, while below 50 is negative.

The constituent indicators that make up the Business Confidence Index were mostly lower during April. The Massachusetts Index assessing business conditions within the Commonwealth fell 1.8 points to 34.5, leaving it 28.7 points lower than in April 2019. The U.S. Index measuring conditions nationally was essentially flat at 32.1, a drop of 26.2 points during the year.

The Current Index, which assesses overall business conditions at the time of the survey, lost 5.4 points to 31.2. The Future Index, measuring expectations for six months out, provided a lone bright spot as it rose 1.9 points to 45.6. The Employment Index was down 2.5 points in April and 11.5 points for the year. The Sales Index, a leading indicator, lost 5.3 points to 38.2.

Non-manufacturers (38.4) were slightly more confident than manufacturing companies (36.9). Medium-sized companies (39.4) were more optimistic than both large companies (34.4) or small companies (38.4). Companies in Western Mass.s (39.0) were more optimistic than those in the eastern part of the state (37.3).

Elmore Alexander, retired dean of the Ricciardi College of Business at Bridgewater State University, said the economic convulsion caused by COVID-19 has fallen heavily on healthcare, higher education, and other key drivers of growth in Massachusetts. “The COVID-19 outbreak has been particularly severe in Massachusetts as well, so the reopening of the economy may take longer than in other states and other countries. An important milestone will be whether college students return to campus in the fall.”

AIM President and CEO John Regan, also a BEA member, said the business community has begun to work with Baker’s 17-member advisory committee to develop strategies to re-open the Massachusetts economy.

“Any decision by government to lift of the prohibition on non-essential businesses will be just the beginning for Massachusetts employers, who will in many cases need to reconfigure workplaces for social distancing and determine how to implement other safety measures such as the wearing of protective equipment, continuing work-from-home policies and ensuring the health of workers and customers,” Regan said.

In the meantime, he noted, the business community is urging state lawmakers to proceed cautiously while employers and state officials gauge the effect of more than $2 trillion in federal rescue money for business and employees.

BOSTON — The Associated Industries of Massachusetts (AIM) Business Confidence Index recorded the largest monthly drop in its history during March as the COVID-19 pandemic unraveled the global economy.

Confidence dropped 21.9 points to 40.2 on a 100-point scale, moving the reading into pessimistic territory (below 50.0) for the first time since October 2013. The largest monthly decline in confidence prior to last month took place in October 1998, when the Index dropped 9.6 points.

Business confidence in Massachusetts now stands 19.1 points below its level of March 2019 and just seven points higher than its nadir during the recession of 2009.

The confidence decline reflects the continued idling of vast swaths of the global economy as health officials work to stem to spread of the novel coronavirus. Members of the AIM Board of Economic Advisors (BEA) say the March results are not surprising at a time when experts believe the U.S. economy will contract by more than 5% in 2020.

“The unprecedented one-month erosion of business confidence represents the unique set of circumstances that have changed almost every aspect of life during the past month,” said Raymond Torto, professor at the Harvard Graduate School of Design and BEA chair. “Massachusetts companies are trying to map out their futures in the face of government orders to cease operations and the uncertainty of forces beyond the scope of traditional economic models.”

The constituent indicators that make up the Business Confidence Index were all down. The Massachusetts Index assessing business conditions within the Commonwealth fell 29.5 points to 36.3, leaving it 25.4 points lower than in February 2019. The U.S. Index lost 20 points to 31.9.

The Future Index, measuring expectations for six months out, declined 18.1 points to 43.7, a year-over-year slide of 24.6 points. The Current Index, which assesses overall business conditions at the time of the survey, lost 25.8 points to 36.6.

The Employment Index was down 12.2 points in March and 10.5 points for the year. The Employment Index had lagged the overall business-confidence reading for several years amid a persistent shortage of workers.

“The Baker administration deserves tremendous credit for managing through a pandemic crisis with no easy answers,” said John Regan, CEO of AIM. “State government has made good-faith and transparent efforts to limit the spread of COVID-19, secure appropriate equipment for frontline medical workers, and, with the help of federal programs and resources, establish financial backstops for companies and workers alike. It will be a great day when we can all get back to business as usual.”

BOSTON — Business confidence remained steady in Massachusetts during February in a survey taken mostly prior to the late-month market gyrations touched off by COVID-19.

The Associated Industries of Massachusetts (AIM) Business Confidence Index fell 0.2 points last month to 62.1. The reading was 3.9 points higher than a year ago and well within optimistic territory.

February confidence reflected weakening employer views about conditions six months out and about prospects for their own companies. Those indicators are likely to fall again in March as companies factor in the potential effect of COVID-19 on profitability, employee productivity, and travel policies.

“The underlying indicators of the U.S. and Massachusetts economies remain strong, but fallout from COVID-19 introduces a huge amount of uncertainty into the economic picture,” said Raymond Torto, professor at the Harvard Graduate School of Design and chair of AIM’s Board of Economic Advisors (BEA).

The AIM Index, based on a survey of more than 100 Massachusetts employers, has appeared monthly since July 1991. It is calculated on a 100-point scale, with 50 as neutral; a reading above 50 is positive, while below 50 is negative.

The constituent indicators that make up the Business Confidence Index were mixed during February. The Massachusetts Index assessing business conditions within the Commonwealth fell 0.4 points to 65.8, leaving it 5.0 points higher than in February 2019. The U.S. Index was virtually flat, rising 0.1 points to 60.9.

The Future Index, measuring expectations for six months out, declined 1.0 point to 61.8, a year-over-year gain of 3.0 points. The Current Index, which assesses overall business conditions at the time of the survey, gained 0.5 points to 62.4

The Employment Index was up 0.2 points in February and 2.9 points for the year. The Employment Index continues to lag the overall business-confidence reading amid a persistent shortage of workers that may become more pronounced as large numbers of Baby Boomers retire.

Non-manufacturers (62.8) were more confident than manufacturing companies (61.4). Large companies (66.3) were more optimistic than medium-sized (61.4) or small (56.3) companies. Companies in Eastern Mass. (63.4) were more optimistic than those in the west (59.9).

Edward Pendergast, managing director of Dunn Rush & Co. and a BEA member, noted that confidence among small businesses dropped from 63.0 in January to 56.3 in February, leaving the reading a full point lower than it was 12 months ago.

“Business formation and entrepreneurial activity remain strong in Massachusetts, yet owners of small companies are less optimistic about their prospects than they have been,” he said. “It will be an interesting measure to watch as the year progresses.”

AIM President and CEO John Regan, also a BEA member, said the Massachusetts economy has reached a turning point as lawmakers debate raising taxes to pay for transportation-infrastructure improvement.

The state House of Representatives last week passed a $600 million transportation-financing bill that would increase the gasoline tax and established a tiered minimum corporate tax.

“AIM believes that any transportation-financing source should have some nexus to transportation, and the change in corporate minimum tax lacks that nexus,” Regan said. “We support policies and responsible new investment to reduce congestion, grow capacity to deliver capital projects, lower carbon emissions in the transportation sector, and ensure accountability and transparency in transportation-investment spending.”