For the first time since October 2011, tri-state area manufacturers reported sub-par business conditions, as an index tracking new orders was in negative territory a second straight month.
The Empire State Manufacturing Survey is published by the Federal Reserve Bank of New York, whose territory includes Fairfield County.
Manufacturers were asked about modifications to their hiring and capital spending plans for the balance of 2012, with the New York Fed reporting that twice as many have made downward revisions in their plans versus those revising hiring and spending upward. Respondents cited increased uncertainty about their business prospects.
Despite those revisions and other indicators of pessimism including for the overall outlook, the index suggested a moderate increase in recent employment levels at area manufacturers.
