U.S. small and mid-sized business owners are holding back on hiring and spending despite growing optimism over the economy, according to the latest findings of the PNC Economic Outlook survey.

Almost six in 10 (58%) are optimistic about the U.S. economy during the next six months, up from 42% last fall when the survey was last conducted. Small business owners are even more optimistic about their local economies, with 71% optimistic, an improvement from 59% six months ago.

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