The NFIB Small Business Optimism Index ticked up by 0.5 points in August, landing at 100.8 — nearly 3 points above its long-term 52-year average of 98.
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Out of the 10 components that make up the index:
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4 increased,
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4 decreased,
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2 stayed flat.
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The biggest boost came from business owners expecting stronger real sales ahead, signalling that US economy may be still far aways from recession. Historically low NFIB index reading came in ahead of an economic slowdowns.
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The Uncertainty Index dropped 4 points to 93 (but it’s still sitting higher than the historic norm). Most of that decline came from businesses feeling less worried about financing conditions and planned capital spending.
NFIB Chief Economist Bill Dunkelberg noted that optimism improved as more owners reported better sales expectations and healthier earnings. Still, he emphasized that labor quality remains the number one concern on Main Street.Other business sentiment surveys have also been upbeat recently. The main drag? The labor market, which remains stuck — low layoffs but also very low hiring.
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Source: xStation5
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