Small business were slightly more optimistic in July, as the National Federation of Independent Business' monthly Small Business Optimism index grew 0.7-point to 95.7, the group said Tuesday.
The gain resulted from increases in the outlook for expansion and business conditions. "Even though these improved, they still remain historically low," according to a release.
"On the positive side expectations for business conditions and outlook for expansion accounted for virtually all of the net gain in July's Index," said NFIB chief economist Bill Dunkelberg.
"However, capital spending reports continue to remain mediocre, spending plans are weak, and inventories are too large, with more owners reporting sales trends deteriorating than improving. As long as these stats continue to hold, the small business half of the economy will continue to not be able to pull its weight."
