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Executives of Mid-Sized Businesses Anticipating More Investment

Executives of Mid-Sized Businesses Anticipating More Investment

In the latest indication that companies across the U.S. are becoming more confident in the economy, a new survey conducted by JPMorgan Chase & Co. found executives of mid-size businesses are expecting to need financing for more investment.

Reuters reports the financial institution found 49 percent of executives were optimistic about the country's economic outlook, a 10 percent increase from last year. Approximately 79 percent expressed confidence in their own business prospects, an increase over 72 percent in 2011.

Doug Petno, chief executive officer of JPMorgan's commercial bank, said in the survey that "the mood out there has shifted," as 75 percent of executives polled said they expected a need for financing this year for acquisitions, facilities, equipment and working capital.

Jim Glassman, an economist with JPMorgan, added that the results of the survey are consistent with an economy that is gaining momentum, Reuters reports.

The study comes on the heels of previous research that found small business owners are becoming increasingly optimistic and are ramping up their hiring plans.