Connecticut’s Business Outlook Worsens As Dan Malloy’s Budget Crisis Continues

As Connecticut’s budget crisis drags on with no end in sight under Failed Governor Dan Malloy and his Democrat Enablers’ lack of leadership, the state’s business outlook continues to worsen. A new survey of 127 businesses shows that just 29 percent of them have a positive outlook for their firms, down from 37 percent in a previous survey. A CBIA economist directly attributed this to the state’s budget crisis, claiming, “as the budget stalemate continues, more and more businesses are avoiding making major investments.” With fewer businesses hiring and key employers like General Electric and Aetna already leaving the state, Malloy and his chief enablers, Nancy Wyman and Kevin Lembo, continue to prolong Connecticut’s economic disaster.

The Hartford Business Journal reports:

“As concerns grow over the state’s budget stalemate, fewer Connecticut businesses expect growth, according to the latest CBIA Economic and Credit Availability Survey.

With 127 business leaders responding, the second quarter survey found that just 29 percent of them have a positive outlook for their firm — down from 37 percent in the first quarter…

Fewer businesses plan to increase their workforce (23 percent compared to 26 percent in the first quarter), while 66 percent forecast no change (the same as previously). About 12 percent plan reductions compared to 8 percent in the last quarter, surveyors found.

‘The survey is indicative of an economy that is growing, just quite slowly,’ said CBIA economist Pete Gioia. ‘However, it’s clear that as the budget stalemate continues, more and more businesses are avoiding making major investments until they see signs of predictability and stability. That means a budget with no tax hikes — sooner rather than later.’”