U.S. Small Business Optimism Improves In August: NFIB

(RTTNews) - Small business confidence in the U.S. improved in August, largely led by stronger sales expectations and easing uncertainty, results of a monthly survey by the National Federation of Independent Business showed on Tuesday.

The NFIB Small Business Optimism Index rose 0.5 points to 100.8 in August. Economists were looking for a higher score of 101. The latest reading is about 3 points above the 52-year average of 98.

Among the main components of the headline index, four increased, four decreased, and two were unchanged.

"Optimism increased slightly in August with more owners reporting stronger sales expectations and improved earnings," NFIB Chief Economist Bill Dunkelberg said. "While owners have cited an improvement in overall business health, labor quality remained the top issue on Main Street."

The Uncertainty Index dropped 4 points to 93, thanks to a decrease in uncertainty about financing expectations and planned capital expenditures. The NFIB survey also showed that unfilled job openings declined by a point to 32 percent in August, which was the weakest since July 2020.