Small Business Confidence at Three Year High

Washington, DC, Feb. 8, 2011 -- Small business confidence in the U.S. rose in January to the highest level in three years, according to the National Federation of Independent Business.

The group's optimism index increased to 94.1, the highest since the recession began in December 2007. However, the reading was lower than the average 100.7 during the last expansion that started in November 2001.

The report showed that fewer small companies plan to increase staff.

“The economy is crawling forward,” said NFIB chief economist William Dunkelberg in a press release.

The net percent of small business owners projecting higher sales, adjusted for inflation, rose 5 points to 13%, the highest level since Oct. 2007.

Expectations for better business conditions six months from now gained 1 percentage point to a net 10%.