Small business optimism dips in Sept., but business 'booming'
Small business optimism slipped a bit in September, but the National Federation of Independent Business' small business optimism index reading of 107.9 was the third highest in the survey's 45-year history.
"This is the longest streak of small business optimism in history, evidence that tax cuts and regulatory rollbacks are paying off for the economy as a whole," said NFIB President and CEO Juanita D. Duggan. "Our members say that business is booming and prospects continue to look bright."
In August, the index was at 108.8.
Capital spending rose significantly in the past few months, according to the survey, while investment spending improved as prospects for the economy remain strong.
“Sixty percent of owners reported capital outlays, up four points from August,” the survey indicated. “Of those making expenditures, 41 percent reported spending on new equipment (up two points), 26 percent acquired vehicles (up four points), and 16 percent improved or expanded facilities (down two points).”
"The economy continues to deliver a spectacular performance considering its record length. Small business owners continue to face labor force challenges but are increasing compensation to keep up," said NFIB Chief Economist Bill Dunkelberg. "With profits and investment remaining strong, our hope is that policymakers will stay the course and not screw around with success."