Only 11 percent of Arizona small-business owners see the U.S. economy as good, a drop from 19 percent last quarter, according to the latest Silver State Bank/Arizona Small Business Association/O’Neil Associates Economic Indicators Monitor.

The majority — 58 percent — see the economy as fair, and 31 percent see it as poor.

Locally, 19 percent of Arizona small-business owners rated conditions as excellent or good, while 53 percent saw it as fair, and 28 percent as poor.

When looking forward 12 months, 49 percent of those surveyed say they expect conditions to improve, down from 58 percent in the first-quarter index; 24 percent expect conditions to remain the same, and 27 percent say they will be even worse.