Pa. business survey finds confidence lowered for 2013

Posted: January 24, 2013

Heads of businesses in Pennsylvania lowered their confidence in the economy for 2013 after a disappointing 2012, according to a survey by First Niagra Bank N.A.

Even with this lower confidence, more Pennsylvania business leaders said they plan to add jobs rather than eliminate them in 2013, and to invest in fixed assets such as property and equipment, the Buffalo-based bank said.

The annual survey was the bank's fourth and was based on responses from 715 leaders of private businesses in Philadelphia, Pittsburgh, Allentown, Scranton, Altoona, Harrisburg, Erie, Lancaster, Reading and York.

The survey, conducted by the Siena College Research Institute, canvassed chief executive officers, chief financial officers and senior managers of private companies with $5 million to $200 million in annual sales in the service, manufacturing, retail, financial, engineering/construction, wholesale and distribution, and food and beverage industries, Niagra said.    - Reid Kanaley

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