ECONOMY

Manufacturers, Builders Less Optimistic: A Dun & Bradstreet Corp. survey found that slower growth in new orders and a reduction in order backlogs in July caused manufacturers to lower their expectations for near-term business. An economist for the New York-based information company said the results suggest that executives will be taking a cautious approach over the next few months. The company’s July survey of builders found that their expectations also declined. Douglas P. Handler said that although optimism about manufacturing conditions for the coming three months is now at its lowest level of 1994, it is still better than it was during most of last year.