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PNC survey: Pa. business owners see reduced prospects

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By Thomas Olson
Thursday, Oct. 4, 2012, 12:01 a.m.
 

Pennsylvania business owners have grown more pessimistic about their business prospects since last spring, according to a survey by PNC Financial Services Group.

Taken every six months, the poll found only 40 percent of small- to medium-sized business owners expect sales to increase in the next six months, down from the 55 percent who thought so last spring. Only 31 percent of respondents currently thinks profits will rise in the next six months, compared with 37 percent earlier.

Just 13 percent said they foresee adding workers, down from 18 percent in the spring, but higher than 9 percent in fall 2011. Only 54 percent said they planned to make capital investments in the next six months, down from 64 percent last spring.

About 62 percent of respondents said they are optimistic about their local economies, unchanged from responses last spring.

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