Weak consumer spending led to a decline in an index of small-business indicators for the third month in a row.

The Small Business Optimism Index of the National Federation of Independent Business fell 0.3 points in May to 90.9, a recession-level reading.

"Corporate profits may be at a record high, but businesses on Main Street are still scraping by," said NFIB Chief Economist Bill Dunkelberg. "Washington is throwing misdirected policies at the problem, offering tax breaks for hiring and equipment investment, but acting surprised when they don't bear any fruit."

Sales are down at most small businesses surveyed by NFIB. Only 5 percent of small-business owners think now is a good time to expand.

The picture is much brighter for big businesses, according to the Business Roundtable. Nearly 90 percent of corporate CEOs expect higher sales over the next six months, and more than half plan to increase capital spending and hiring.

"This continues a positive trend for our companies' activity heading into the second half of 2011," said Ivan Seidenberg, roundtable chairman and chairman/CEO of Verizon Communications.

Bank economists, meanwhile, predict the U.S. economy, adjusted for inflation, will grow by nearly 3 percent in the second half of this year and in 2012.

"Business growth has built up some staying power, despite continued headwinds," said Peter Hooper, chief economist of Deutsche Bank in New York and chairman of the American Bankers Association's Economic Advisory Committee.

That committee predicts more than 2 million jobs will be created in the United States this year - more than twice as many jobs as were created last year. Bank economists predict 2.5 million jobs will be created in 2012.

The number of Americans covered by health savings accounts grew 14 percent last year to 11.4 million, according to a census conducted by America's health insurance plans.

HSAs are tax-free accounts for medical expenses that are coupled with high-deductible insurance plans. The fastest-growing market for HSA insurance plans last year was the large-group market, which rose 26 percent to 6.3 million people.

"HSA plans continue to be a vital source of affordable coverage for millions of families and employers across the country," said AHIP President and CEO Karen Ignagni.

Health insurers are concerned, however, that health-care reform could make HSAs less attractive. For example, HSA funds can no longer be used to purchase over-the-counter drugs without a prescription.

President Obama signed an executive order creating a new oversight board to help federal agencies reduce waste and fraud.

It's part of the White House's new Campaign to Cut Waste. Agencies will be asked to identify and consolidate overlapping programs, and reduce travel and the use of consultants. The campaign will start by halting the creation of new government websites. Over the next year, federal agencies will shut down or consolidate half of their current 2,000 stand-alone websites.

"We are stepping up the hunt for misspent dollars," said Vice President Joe Biden, who will direct the effort.

But the ranking Republican on the Senate Homeland Security and Government Affairs Committee questions whether creating a new board is the best way to attack government waste.

"The American people do not need yet another government board to identify wasteful programs and inefficient management," said Sen. Susan Collins, R-Maine.

Kent Hoover is Washington bureau chief for American City Business Journals.