NFIB Optimism Index Reports a Small Rise in July
The NFIB’s most recent numbers on small business optimism reported a rise in the month of July, indicating that small business owners are trying to retain a positive outlook on the economy while at the same time bracing themselves for whatever may come. The percentage rise was only 0.7%, bringing the index to 95.7 which according to the NFIB’s breakdown is still a historically low reading.
Hiring and job creation have both continued to increase. Holding in a continuous rising pattern, the addition of jobs as well as plans to add them in the small business sector are moving forward slowly. While hiring is a positive indicator, small businesses will be pressed to maintain payroll for new staff and will be counting on consistent sales.
Sales readings were mostly unchanged. Sales data for business owners reporting better than usual sales fell by a point, while expected sales volumes also dropped by a point. This isn’t really much to report, with the takeaway being that business owners are trying to remain optimistic while at the same time being honest with themselves about the uncertainty of the economy going forward.
These numbers come after a dip in confidence in June. Rebounding confidence, however slight, is a positive sign after a small dip in last month’s readings. It seems that business owners will continue to dig in, prepared for the worst but holding out for clear indicators of a turning of the tide in the economy.
Photo Credit to SuperFantastic on Flickr