Small business confidence in the US is at its highest since February

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Small business confidence in the US is at its highest since February




FILE PHOTO: CNC Cabinetry in South Plainfield, New Jersey


© Reuters/Andrew Kelly
FILE PHOTO: CNC Cabinetry in South Plainfield, New Jersey


Oct 13 (Reuters) – Small business confidence in the United States rose in September to its highest level since the beginning of the year, when the pandemic began, and more firms saw a rebound in traffic and sales, according to a monthly survey. posted on Tuesday.

The National Federation’s Independent Business Optimism Index (NFIB) rose 3.8 points to 104 last month, the highest since February. After falling to a seven-year low in April, the index rebounded with the easing of restrictions imposed to contain the spread of COVID-19.

Nine of the 10 components of the index showed improvement, led by a 13-point rise in business owners’ assessment of earnings trends.

A higher net percentage of companies expect the economy to recover as well, and a growing percentage expect to increase employment in the next three months.

“As some parts of the country continue to open up, small businesses are seeing some improvements in traffic and sales,” NFIB chief economist Bill Dunkelberg said in a statement.

“However, some are still struggling financially to operate at full capacity while navigating state and local regulations and are not sure what will happen in the future.”

The NFIB uncertainty index rose 2 points to 92, matching its March level.

(Reporting by Dan Burns; Edited in Spanish by Janisse Huambachano)

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