Small businesses were more optimistic in December, as the National Federation of Independent Business' monthly Small Business Optimism index rose to 100.4 from 98.1 in November.
The index has reached its pre-recession average and is higher than it's been since October 2006, the NFIB said.
Eight components of the index increased in December, with one flat and one off a percentage point. The component that fell, expected business conditions six months out, surged 16 points in November, the NFIB said, "so the 1 percentage point decline simply confirmed the very strong gain in November."
Actual capital spending was up 3 percentage points, and plans for capital spending was up to 29%, its best reading since December 2007, the peak of the last expansion.
"The four 'hard components' of the Index (spending, hiring plans, and job openings) accounted for half of the gain in the Index, in contrast to no contribution to the gain in November," NFIB said in a release.
