Optimism among small companies in the U.S. advanced last month to the highest level in more than 34 years as owners became more upbeat about future economic conditions and sales prospects, according to a National Federation of Independent Business survey.
The index rose by 3.7 points to 107.5, the highest in monthly data since 1986. It is the highest since 3Q 1983 when looking at earlier quarterly figures. Nearly 48 percent of those surveyed expect better business conditions in next six months.
Key Takeaways
The small-business optimism index showed all but two of the 10 components increased from a month earlier, including a record net 24 percent share of small-business owners who said they plan to add jobs. Construction, manufacturing and professional services registered notable increases in planned hiring. The figures indicate the recent solid pace of job growth will be sustained and help extend the economic expansion.