Small businesses more pessimistic in June

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Small businesses lost confidence in June, according to a survey by a leading industry organization.

The National Federation of Independent Businesses said that its Index of Small Business Optimism fell 3.2 points last month.

It was the first drop in months for the index, which is based on a survey of 850 small businesses nationwide.

Many respondents said sales did not increase in June from the month before, and a hefty percentage also said they had reduced their inventories.

-- Sharon Bernstein