Tuesday, November 11, 2014

Small Business Optimism Rebounded in October

Small business optimism rebounded by 0.8 points in October, settling at an index of 96.1. This reading tied with August as the highest since 2007. The gain was largely due to an increase in owners planning to increase capital spending and those expecting higher sales in the next 3 months. Six of the ten components improved and the remaining four declined.

Financing continued to be of no real concern for small business conditions, with only 2% of respondents citing it as the single most important problem. Government requirement and red tape held the top spot at 22%, with taxes remaining at the number two spot at 21%.

Finding quality labor shot up from 9% of respondents to 12%, highlighting a growing problem of businesses struggling to find skilled workers.

Read the NFIB report.

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