Optimism among small businesses was at a near-record high in November as the National Federation of Independent Business Index of Small Business Optimism rose 3.7 points from the month previous.
November’s reading was the second highest in the index’s 44-year history, the NFIB says. Eight of 10 components on the index posted gains, including expectations for better business conditions, up 16 points, and sales expectations, up 13 points.
Additionally, job creation plans increased six points while the number of owners who said it’s a good time to expand rose four points.
“We haven’t seen this kind of optimism in 34 years,” says NFIB President and CEO Juanita Duggan in a statement. “Small business owners are exuberant about the economy, and they are ready to lead the U.S. economy in a period of robust growth.”
State-specific data is unavailable, but NFIB Louisiana Director Dawn Starns says in a statement that she thinks “our small-business members are really encouraged by what’s happening in Washington.”
