The NFIB Small Business Optimism Index rose 0.5 points
in August to 100.8, nearly 3 points above the 52-year average of 98. Of
the 10 Optimism Index components, four increased, four decreased, and
two were unchanged. The increase in those expecting real sales to be
higher contributed the most to the rise in the Optimism Index. The
Uncertainty Index fell by 4 points to 93 but remained well above the
historical average. The decline was due to a decrease in uncertainty
about financing expectations and planned capital expenditures.
NFIB Chief Economist Bill Dunkelberg said: “Optimism increased slightly in August with more owners reporting
stronger sales expectations and improved earnings. While owners have
cited an improvement in overall business health, labor quality remained
the top issue on Main Street.”
This and other business surveys have been positive. The slowdown fears have been coming just from the labour market which remains frozen with low layoffs and low hiring.
