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Small business optimism rises in May: NFIB

Small business owners were more upbeat about the U.S. economy in May, according to a monthly industry survey.

The National Federation of Independent Business on Tuesday said its Optimism Index rose 1.4 points to 96.6 in the month, the highest reading since September 2007.

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The NFIB cautioned, however, that while the survey has showed an improvement in sentiment for the third straight month, the index remains far below readings that have normally accompanied an expansion in the U.S. economy.