US Business Optimism: Small businesses ready to grow – Wells Fargo
Small Business Optimism rose 0.7 points to 107.6 in February, the second-highest reading in series history, noted analysts at Well Fargo. They highlight that capital spending and rising compensation were notable standouts in this report.
“The National Federation of Independent Business (NFIB) Small Business Optimism Index rose 0.7 points to 107.6 in February. Strength was broad based.”
“Increased capital spending was reported by 66 percent of owners, the highest reading since 2004. Reports of higher compensation remained near a series high of 31 percent. These categories suggest owners are increasingly investing in their business and confirm the rise in overall confidence.”
“Labor quality is now the top concern for small business owners. The tight labor market has made it more difficult for business owners to find and retain quality workers. This problem has persisted for some time.”