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Survey: Economic confidence bounces back

Small business confidence jumped 9.4 points from March to April, bringing the measure of small business confidencediscover1 back to where it was at the start of the year, according to the Discover Small Business Watch. The index rose to 85.1, up from 75.7. A similar jump occurred last year when the index gained 10.3 points from March to April.

“Small business owners are more positive this month about where the current economy stands and where it appears to be heading,” said Ryan Scully, director of Discover’s business credit card, which commissions the monthly survey. “The percentage of owners who rate the economy good or excellent is the highest it has been since August 2008 – just weeks before the collapse of the financial markets.”

April results show a surge in the number of small business owners who say economic conditions for their own businesses are getting better: 30% of them say the climate will improve in the next six months, compared to only 20% in March. Of the remaining respondents; 48% say the climate is getting worse, but that number is down from 53% in March.

When asked about their intentions to invest in their businesses, 23% say they would increase spending, up from 18% in March, while 43% still plan to decrease spending, which is down from 52% in March; 31% say they will make no changes.


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