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Weaker small business confidence bucks firming data

U.S. minute business confidence declined further in February as lingering concerns in all directions sales growth and profits hurt capital spending and hiring layouts, a survey showed on Tuesday.

The National Federation of Independent Business (NFIB) disclosed its small business optimism index dropped one point to a reading of 92.9 conclusive month, with none of the index’s components showing an increase. The ratio decreased 1.3 percentage points in January.

“Spending and hiring plots weakened a bit as expectations for growth in real sales volumes fell. Earnings styles worsened a bit as owners continued to report widespread gains in worker compensation while keep the line on price increases,” the NFIB said in statement.

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