Small business optimisim in the U.S. is at an all time high, according to the National Federation of Independent Business (NFIB) Index survey released Tuesday. “We haven’t seen this kind of optimism in 34 years, and we’ve seen it only once in the 44 years that NFIB has been conducting this research,” said NFIB President and CEO Juanita Duggan.
“Small business owners are exuberant about the economy, and they are ready to lead the U.S. economy in a period of robust growth.”
The survey reveals owners became more upbeat about future economic conditions and sales prospects, according to a National Federation of Independent Business survey released Tuesday.
Highlights of the Small-Business Optimism Survey (November)
- Index rose by 3.7 points to 107.5 (est. 104), highest in monthly data back to 1986; highest since 3Q 1983 when looking at earlier quarterly figures
- Net 48% expect better business conditions in next six months, biggest share since January and up from 32% a month earlier
- Net 34% expect higher sales, largest share since Oct. 2005 and up from 21% in Sept.
The small-business optimism index showed increases in construction, manufacturing and professional services, all with plans to hire more employees. The figures indicate the recent solid pace of job growth will be sustained and help extend the economic expansion.