BOSTON (AP) - A monthly survey of Massachusetts employers is showing diminished optimism about the economy.
Associated Industries of Massachusetts reported on Tuesday that its Business Confidence Index fell more than 3 points in June and now stands at 48.9 on a scale of 100. A reading below 50 indicates employers are more pessimistic than optimistic about the current business climate.
Last month's drop follows a May increase that put the index at 52.1, its highest point of the year.
The chair of AIM's board of economic advisors, Raymond Torto, said the recent downward revision in growth estimates for early 2013 likely contributed to doubts expressed by employers.
This is the fourth consecutive year the index slumped at the start of summer. It tumbled more than 8 points in June a year ago, but later recovered much of the losses.