First Niagara Second Annual Survey Reports Southwestern New England Business Executives Slightly Optimistic About 2013 Economy

Jan 15, 2013, 10:00 ET from First Niagara

NEW HAVEN, Conn., Jan. 15, 2013 /PRNewswire/ -- First Niagara's Second Annual Survey of Southwestern New England Business Leaders released today shows more private sector company executives expect economic conditions to improve in 2013 than those who predict they will worsen, but with cautious expectations for revenues, profits, and new job hires in the coming year.

This year's survey results are based on responses from 361 leaders of private businesses in the Connecticut counties of Fairfield, Hartford, Middlesex, New Haven, Tolland and Windham and the Massachusetts counties of Hampden and Worcester.

"The survey shows that business leaders are looking at 2013 being a better year for their companies and for business conditions in the Connecticut and Massachusetts economies but with the knowledge they are operating in the reality of the 'new normal,'" said David Ring, managing director of Enterprise Banking for First Niagara Bank.

"Most importantly, these business executives in Southwestern New England continue to invest in their companies and their people and market and sell products and services as they await a more robust economy," he said.

Responding to the survey conducted by the Siena College Research Institute were 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.

Results are available at

First Niagara, through its wholly owned subsidiary, First Niagara Bank, N.A., is a multi-state community-oriented bank with approximately 430 branches, $36 billion in assets, $28 billion in deposits, and approximately 6,000 employees providing financial services to individuals, families and businesses across Upstate New York, Pennsylvania, Connecticut and Massachusetts. For more information, visit

SOURCE First Niagara