Local Voices
Small Business Optimism its Highest Since 2007
However, the National Federation of Independent Business says the sentiment is still below normal expansions and is no sign of a surge.
Small business optimism hit its highest point since before the recession, according to the National Federation of Independent Business.
The NFIB released its May Small Business Optimism Index, which shows that the sentiment of small businesses in the country has reached its highest level since September 2007, but noted that it's still below average.
The Optimism Index gauges several business components, including plans to increase employment, expectations of higher sales, capital spending plans and current inventory.
However, NFIB Chief Economist William Dunkelberg tempers the optimism because the areas in which the outlook improved were all "soft" components.
"The Index continued to improve, to the highest level since September 2007. That’s the good news," Dunkelberg said in the report. "Three gains in a row – could be the start of a trend, although we have had quite a few of these along the way that didn’t pan out." Read full analysis here.
This article is sponsored by Wells Fargo Works. Watch the video series, then enter the contest where you could win a similar experience, including $25,000 for your business. Watch the videos and enter the contest here.
Get more local news delivered straight to your inbox. Sign up for free Patch newsletters and alerts.