Small Business Optimism Remained High in October
Washington, DC, November 13, 2018-With a reading of 107.4, small business optimism continued its two-year streak of record highs in October, according to the NFIB Small Business Optimism Index, slightly down from September's 107.9 rate.
Overall, small businesses continue to support the 3% growth of the economy and add significant numbers of new workers to the employment pool. Owners believe the current period is a good time to expand substantially, are planning to invest in more inventory, and are reporting high sales figures.
Seasonally adjusted, 30% of owners think the current period is a good time to expand substantially, citing the economy (72%) and strong sales (14%). Nine percent of those who believe it is a good time to expand cited the political climate with 17% who believe it is a “bad time” to expand blaming politics. Although politics matter, the index indicates that economic factors, good or bad, are the main drivers of expansion decisions.