Small businesses were more optimistic in May as the National Federation of Independent Business' monthly Small Business Optimism index, published Tuesday, rose to 98.3 from 96.9 in April.
Six of the ten index components grew in the month.
"It appears that the small business sector has finally attained a normal level of activity, which will hopefully keep the economy moving forward, even at a sub-par pace," said NFIB Chief Economist Bill Dunkelberg. "That being said, improved profit trends accounted for over half the Index gain, a rather unusual but welcomed development. This was supported by positive sales trends and continued, although rising, fuel prices."
The survey indicates "the economy is moving ahead, but at an uninspiring pace," Dunkelberg said.
