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Business owners and executives are considerably more optimistic about business conditions for 2015 than they were in the previous two years, according to results of the fifth annual McDonald Hopkins Business Outlook Survey.

In the 12-question survey, which McDonald Hopkins said was “conducted with clients and friends of the firm” from Jan. 5 to 23, 78% of respondents said they expect business conditions to improve this year, compared with 65% voicing optimism in last year’s survey and 54% two years ago. The firm does not specify how many people responded to the survey.

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