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Small businesses more confident about economy, survey finds

By msnbc.com news services

Small businesses in the United States grew more confident in the economy's future in November, for a third straight month of improvement, bolstered by a more optimistic outlook for sales and hiring, according to a survey released on Tuesday.

The National Federation of Independent Business said its Small Business Optimism Index rose 1.8 points to 92.0.

Eight of the index's 10 components were either improved or flat.

The majority of businesses polled expected better future sales when adjusting for inflation. In October, most small businesses expected inflation-adjusted sales to decline.

The hiring component of the index, which was published separately on Dec. 2, rose, after declining the previous five months.

The index reading was based on a survey of 781 NFIB members.

The NFIB’s Chief Economist Bill Dunkelberg appeared on CNBC this morning to discuss the report:

Reuters contributed to this report.