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Notizie economiche
11.06.2024

U.S. small business optimism index rises more than anticipated in May, - NFIB report shows

The National Federation of Independent Business (NFIB) reported on Tuesday its Small Business Optimism Index jumped by 0.8 point to 90.5 in May, following a 1.2-point climb in the previous month. This represented the highest reading since December 2023 (91.9). Nonetheless, the indicator remained below its historical average of 98 for the 29th consecutive month.

Economists had predicted the index to rise to 89.8 in May.

According to the report, the May advance in the headline gauge was due to gains in 5 components, driven by a measure of small business owners expecting the improvement in the economy (+7 points) and a measure of owners planning to increase employment in the coming months(+3 points).

These increases, however, were partly offset by declines in such 3 indicators, as a measure of small business owners viewing current inventory stocks as “too low” (-4 points), a measure of small business owners reporting positive profit trends (-3 points) and a measure of small business owners expecting real sales to be higher (-1 points).

Meanwhile, a measure of small business owners planning to increase inventories in the coming months and a measure of small business owners judging that now is a good time to expand were unchanged.

Commenting on the latest data, Bill Dunkelberg, NFIB Chief Economist, said that, small business owners have expressed historically low optimism for 29 consecutive months, and their views about future business conditions are at the worst levels seen in 50 years. “Small business owners need relief as inflation has not eased much on Main Street,” he added.

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