Small-business optimism drops for third month

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Small-business optimism drops for third month (by MarketWatch)

WASHINGTON (MarketWatch) -- Weak consumer spending is hurting U.S. small businesses, according to the National Federation of Independnet Businesses. The small-business optimism index fell for the third month in a row to 90.9 in May from 91.2 in April, the NFIB said Tuesday. At 90.9, the index is at "recession levels," the NFIB said. Business owners say weak sales are their major concern, followed by taxes and regulations. "Corporate profits may be at a record high, but businesses on Main Street are still scraping by," said Bill Dunkelberg, chief economist for the lobbying and trade group. Details of the survey were also weaker, with fewer businesses planning to hire or expand. More businesses were trying to raise prices.

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