NEW YORK (AP) — A survey shows that small business owners are losing confidence as they see the economy struggle.
The survey taken in July by the National Small Business Association found that 60 percent of owners are feeling confident about the future, down from75 percent in December.
The survey also found that 34 percent of owners expect a recession in the next 12 months, up from 14 percent in December. And the number of owners who expect the economy to grow or be unchanged fell to 66 percent from 86 percent.
The survey gave a more negative reading of owners' feelings about the economy than one taken in August and released Tuesday by the National Federation of Independent Business.