Business Confidence Index at 2nd-Highest Level Since 2007 Mar 16, 2012

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The Small-Business Optimism Index gained 0.4 points in February 2012 to 94.3, to reach its second-highest level since the start of the recession in December 2007, according to the National Federation of Independent Business. NFIB said February was the sixth consecutive month of gains and said the increase is a sign that the recovery will likely continue, but also said the index remains quite low and the improvement will continue at a "glacial" pace.

Since December 2007, the start of the Great Recession, only the month of February 2011 had had a higher index reading than February 2012.

NFIB said its report suggests that in February 2012 owners had a slightly more pessimistic outlook for business conditions but also more optimistic about future sales growth.

"The good news for small-business owners and those watching the economy is that things are getting better," said NFIB Chief Economist Bill Dunkelberg. He reiterated that the pace of improvement was slow.

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