The average monthly change in this indicator is 1.3 points. Here is a closer look at the indicator since the turn of the century. Compare, for example, the relative resilience of the index during the 2000-2003 collapse of the Tech Bubble with the far weaker readings following the Great Recession that ended in June 2009. The first chart below highlights the 1986 baseline level of 100 and includes some labels to help us visualize that dramatic change in small-business sentiment that accompanied the Great Financial Crisis. "Overall, small business owners have shown a historic trend in optimism for their businesses and the economy and continue to be the driving force behind economic growth." "Small business owners are enthusiastic about the economy and have demonstrated their optimism by raising wages, creating new jobs, and investing in their businesses throughout 2018," said NFIB President and CEO Juanita D. An increasing percentage of owners reported capital outlays and higher sales.
Increases in compensation tied a near 30-year high as owners seek to attract more qualified candidates. Slightly more than half of the decline was attributable to Expected Business Conditions and Expected Real Sales. Small business optimism posted a modest decline in November with a reading of 104.8, while continuing its exceptionally strong two-year trend, according to the NFIB Small Business Optimism Index. Here is an excerpt from the opening summary of the news release. Today's number came in below the forecast of 107.3. The index is at the 94th percentile in this series. The headline number for November came in at 104.8, down 2.6 from the previous month. The latest issue of the NFIB Small Business Economic Trends came out this morning.
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