U.S. small business optimism falls sharply in June

Small U.S. businesses' confidence in the economy's future declined in June by the most in two years, increasing the threat that an economic slowdown could stretch into the second half of the year.

The National Federation of Independent Business said on Tuesday its Small Business Optimism Index dropped 3 points last month to 91.4.

Eight of the index's 10 components fell, with businesses downbeat on sales, profits and hiring.

American companies slammed the brakes on hiring in the second quarter, a warning sign the recovery from the 2007-2009 recession is faltering.

Many economists think companies are holding back due to fears of Europe's debt crisis as well as U.S. government plans for severe belt tightening in 2013. The NFIB data signals confidence in the recovery continues to erode.

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- Posted: 2012-07-10 12:56:48

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