Confidence among small businesses rose in October to the highest level in five months as more companies projected sales gains and anticipated an improving economy, a private survey found.

The National Federation of Independent Business’ optimism index increased to 91.7 from a September reading of 89, according to Bloomberg. Seven of the index’s 10 components rose and three declined. The measure, which averaged 100.6 in the five years before the recession began, has been below 93 since January 2008.

To help broaden the recovery, smaller firms need to increase hiring. Within the optimism index, a measure of job creation was little changed and capital spending plans declined, signaling a pickup in the world’s largest economy will be slow to develop, the report said.

“The private sector will continue to slog ahead,” William Dunkelberg, the group’s chief economist, said in a statement. October’s gain in optimism is “not a huge move, but at least a decent jump, perhaps anticipating an acceleration in economic activity or a change in the ‘management team’ after the election,” he said.

Average employment growth was unchanged in October, after falling in all but two quarters since April 2007, which “raises the odds that Main Street may contribute to private sector job growth for the first time in over a year,” Dunkelberg said.