Small and mid-size business owners are optimistic about the economy, and their confidence appears to be triggering positive-yet-cautious steps forward to grow their operations and raise wages.

The results of M&T Bank's Q3 2017 Economic Outlook Survey show the hiring forecasts of large businesses have reached post-recession highs.

For the second time, M&T Bank conducted a survey of small and mid-sized business owners (those with annual sales of under $10 million) to gain a deeper analysis of their outlook for the overall economy and their own industry. The results suggest businesses are growing more optimistic about the economy.

The results of M&T Bank’s first quarter Economic Outlook Survey for 2017 suggests large businesses and commercial real estate enterprises are looking forward to potential changes in economic policy under the new administration.

The results of M&T Bank’s third quarter Economic Outlook Survey for 2016 suggests mid-sized companies are growing more worried about the economic outlook, but remain cautiously optimistic about their own business prospects.