From BloombergMarkets: Optimism among small companies in the U.S. rose more than forecast in January, fueled by a record number of owners who said now was a good time to expand, according to a National Federation of Independent Business survey released Tuesday.
- Overall index rose by 2 points to 106.9 (est. 105.3), close to November’s 107.5 reading that was highest in monthly data to 1986
- 32% said now was a good time to expand businesses, exceeding all monthly figures to 1986 and quarterly readings back to 1973
- Net 41% expect economy to improve, up from 37% month earlier
More: The new tax law “produced the most recent boost to small-business optimism,” NFIB’s William Dunkelberg and Holly Wade said in a report. “And federal government-related cost pressures continue to abate, offering a more supportive business climate for small firms. Consumer spending remains supportive, and business spending and housing remain strong.”
Of note, every democrat voted against the new tax law.