U.S. Small Business Optimism Index Soars
Hitting Several Records in May 2018
The Small Business Optimism Index increased in May to the second highest level in the NFIB survey's 45-year history. The index rose to 107.8, a three-point gain, with small businesses reporting high numbers in...
...several key areas including compensation, profits, and sales trends.
"Main Street optimism is on a stratospheric trajectory thanks to recent tax cuts and regulatory changes. For years, owners have continuously signaled that when taxes and regulations ease, earnings and employee compensation increase," said NFIB President and CEO Juanita Duggan.
The May report hit several records, just to mention some points here:
-) Reports of compensation increases hit a 45 year record high.
-) Views about expansion are the most optimistic in survey history.
-) Reports of positive earnings trends at a survey record high.
-) Positive sales trends are at the highest level since 1995.
-) Expansion plans are the most robust in survey history.
"Small business owners are continuing an 18-month streak of unprecedented optimism which is leading to more hiring and raising wages," said NFIB Chief Economist Bill Dunkelberg.