Fear of the impending fiscal cliff has caused many manufacturersto cancel new investments and stall hiring, according to theNew York Times. The political standoff over what to doabout the U.S. budget deficit, combined with the European debtcrisis, will lead to a .5% decrease in growth in the second half ofthe year, and executives are taking note.

For example, Hubbell, which makes electrical products, has putoff hiring workers in 100 positions, canceled equipment orders andput off factory upgrades due to economic uncertainty. Many othercompanies, including Eaton and Siemens, are putting off spendingand decisions until after the elections and once the threat ofgovernment shutdown is resolved.

For the full story.