Owners of Southern California small businesses are mixed on the state of the economy, according to data released Thursday.
About 42% said the economy was recovering, and 48% said the nation was still in a recession, according to the U.S. Bank Small Business Annual Survey. More than two-thirds of the business owners said they were unlikely to make a capital expenditure in the next year.
In Southern California, 64% of respondents characterized their financial health as “good,” and 46% said they expect higher revenues in the next year.
"Businesses have healthy balance sheets, which is a good reason to be optimistic about future job growth when conditions contributing to this economic uncertainty improve," said Sean Foley, regional president for U.S. Bank in Southern California.