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Notizie economiche
09.07.2024

U.S. small business optimism index unexpectedly rises in June, - NFIB report shows

The National Federation of Independent Business (NFIB) announced on Tuesday its Small Business Optimism Index increased by 1.0 point to 91.5 in June, following a 0.8-point jump in the previous month. This marked the third straight increase in the indicator, which lifted it to the highest level since December 2023 (91.9). Nonetheless, the Small Business Optimism Index remained below its historical average of 98 for the 30th consecutive month.

Economists had forecast the index to drop to 89.5 in June.

According to the report, the June increase in the headline gauge was due to gains in 4 components, driven by a measure of small business owners viewing current inventory stocks as “too low” (+6 points), a measure of small business owners expecting the improvement in the economy (+5 points), a measure of small business owners planning to increase inventories in the coming months (+4 points) and a measure of small business owners reporting positive profit trends (+1 points). These increases, however, were partly offset by a decline in a measure of small business owners reporting they have job openings that they could not fill in the current period. Meanwhile, the remaining 5 components were unchanged.

Commenting on the latest data, Bill Dunkelberg, NFIB Chief Economist, said that, Main Street remains pessimistic about the economy for the balance of the year. “Increasing compensation costs has led to higher prices all around,” he added. “Meanwhile, no relief from inflation is in sight for small business owners as they prepare for the uncertain months ahead.”

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