Connecticut businesses cautious due to recession fears

Connecticut businesses are becoming more cautious amid rising recession fears and an escalating trade war. Employers are slowing expansion and hiring due to concerns over increased costs from tariffs on steel and aluminum imposed by President Trump. Marion Manufacturing Co. in Cheshire is already feeling the impact, with rising steel prices affecting profit margins. The company's president anticipates a challenging year, although he does not expect layoffs among his small workforce. Economists warn that the risk of a recession in the U.S. has increased significantly, with some estimating a 70% chance within the next year. Economic uncertainty is affecting consumer spending and business investment, raising concerns about future growth.