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Dipping for a second consecutive month, after ending several months of slow growth, the Small Business Optimism Index gave up 0.2 points, falling to 91.2. According to July’s report, more owners indicated that they expect business conditions will be worse (and not improved) in six months, and more owners expect real sales volumes to be lower than those who expect them to be higher in three months. While "poor sales" has been eclipsed by other concerns as the top business problem, it still remains the No.1 issue for 20 percent of owners surveyed.

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