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Europe's troubles weigh on Mass. businesses

July 22, 2012
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BOSTON—Europe's economic problems are weighing heavily on Massachusetts companies that rely on Europe's good financial health for trade and strong business.

The Boston Globe reports ( http://b.globe.com/MANBLH) that Sara L. Johnson, senior research director of Global Economics at Lexington forecasting firm IHS Global Insight, says the eurozone situation, including pressure on the euro and government debt, is rattling confidence.

Last month, the state shed jobs for first time since November while employment growth in the three months from April to June slowed to just over 4,000 jobs from nearly 29,000.

Associated Industries of Massachusetts, the state's largest employers group, released the results of its June business confidence index earlier this month showing that confidence among Massachusetts businesses experienced the second sharpest drop in 21 years It was driven by concerns about the economy, particularly in Europe.

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Information from: The Boston Globe, http://www.boston.com/globe

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