HARTORD: The Connecticut Business and Industry Association has asked its members, are they optimistic or pessimistic about the outlook for their firms?
The answers are to be found in the group's 2017 Third Quarter Economic and Credit Availability Survey.
There is some good news and not so good news as reported by respondents, both the percentage of business expecting improved conditions and those with a negative outlook rose in the third quarter. The survey shows significant increases over the previous quarter in both the percentage of firms reporting an improved outlook and those expecting worsening conditions.
Thirty-seven percent of survey respondents see improved conditions for their firm, up from 29% in the second quarter. However, 24% predict worsening conditions, a 10-point jump from the last quarterly survey. Forty percent forecast stable conditions, down from 57%.
"We found that several respondent groups are outperforming the norm on growth for their firms over the next three months," CBIA economist Pete Gioia said.
By Mitchell Young
NEW HAVEN: Assa Abloy of the Americas, headquartered on Sargent Drive announced it is buying San Francisco based smart lock maker August Home to increase its portfolio of new lock tech.
Assa Abloy [STO: ASSA-B] generates more than $8 billion [US] in global sales, August Home is estimated to have approximately $60 million in revenue and, 100 employees, Assa 47,000.
The terms of the deal were not announced yet, but is expected to close in 2017. It will likely look like a deal too good, for the founders to pass up, as the company announced a $25 million in new investment, [$75 million in total investment] just this past July with proceeds to help expand its retail and service business lines.