Small Business Optimism Edges Higher, Less than Forecast

The NFIB Small Business Optimism Index edged 0.5 higher to 101.7, slightly below the consensus forecast. Plans for capital outlays notably improved, as did views about future and current business conditions as a good time to expand.The consensus forecast was 102.5, with forecasts ranging from a low of 101.8  to a high of 103.8.“Small business owners are thankful to have the government shutdown in the rearview mirror but need more certainty about the future,” said NFIB President and CEO Juanita D. Duggan. “Small businesses put their money where their expectations are as we’ve seen when they get tax and regulatory relief.”The Uncertainty Index fell marginally by 1 point to 85, indicative of residual uncertainty from the partial government shutdown.“The best thing Washington can do for the small business half of the economy is to continue the policies – tax cuts and deregulation – that leave them with more resources to invest and find qualified workers.”