The National Federation of Independent Business Index of Small Business Optimism fell again in July, establishing one of the longest strings of recession-level readings in the history of the survey. Half of the decline was due to weaker capital spending plans--the lowest reading since 1975. Lower earnings, fewer job openings and lower inventory satisfaction also posted substantial declines.
On the upside the survey found gains in expected real sales, business conditions, and the percent of owners saying this is a good time to expand.
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