The third-quarter Maryland Business Climate Survey, produced by the University of Baltimore's Jacob France Institute in the University of Baltimore’s Merrick School of Business, confirms widespread beliefs that Maryland’s economy—particularly in the Washington, D.C. suburbs, which for decades have been the engine of growth for the state—has been staggered by long-standing problems both here and abroad, in particular the gridlock over cuts in federal spending and the European debt crisis. The latest report stands in marked contrast to that of the second quarter, in which polled business owners across Maryland expressed measured optimism about the state’s economy.
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