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Small-business owners seem to have reacted positively, but not exuberantly, to President Bush’s economic plan, according to a monthly survey conducted by the National Federation of Independent Business.

Fifty-three percent of the business owners surveyed in January rated the president’s economic policy as a “1” (excellent) or “2” on a five-point scale, which was up 5 percentage points from the prior month.

Eight percent gave his policies a “5” (poor) rating, which is a 1 point increase.