NEW YORK (AP) -- Small business owners are more pessimistic about the economy. The National Federation of Independent Business says its index of small business optimism fell nearly 2 points during March.
The NFIB, a group representing small business owners, compiled the index from a survey of its members. It found that owners' expectations for sales and profits fell last month. Plans to hire more workers also fell.
The drop in the index to a reading of 92.5 from February's 94.3 follows six months of gains. The index was at a low of 81 in April 2009, just after the stock market hit bottom during the recession.
NFIB Chief Economist William Dunkelberg says the rising price of gasoline is making owners more pessimistic.