A survey by the National Federation of Independent Businesses found that small business optimism is now higher than the time before the partial federal government shutdown.
The Small Business Optimism Index, which is computed from survey responses from a random sampling of the organization’s members, increased 1.5 points to 105.0 in May.
“Optimism among small business owners has surged back to historically high levels, thanks to strong hiring, investment, and sales,” said NFIB President and CEO Juanita D. Duggan in a news release. “The small business half of the economy is leading the way, taking advantage of lower taxes and fewer regulations, and reinvesting in their businesses, their employees, and the economy as a whole.”
Business owners reporting capital outlays increased six points to 64%, the highest reading since February 2018; 30% plan capital outlays in the next few months, up three points and historically high. Plans to invest were most frequent in transportation (45%), manufacturing (39%), professional services (39%), and construction (31%).