- The Small Business Optimism Index from the National Federation of Independent Businesses came in at 104.9 in December.
- The average monthly reading for the index in 2017 was 104.8, the highest for any year in its history.
- Both the NFIB’s CEO and chief economist attributed the boost in confidence to policy changes under the Trump administration.
The lede: Small-business confidence hit a record high in 2017, according to the National Federation of Independent Businesses.
The National Federation of Independent Businesses on Tuesday released its Small Business Optimism Index for, capping “an all-time record setter” of a year in 2017, according to the right-leaning lobbying group.
The optimism index came in at 104.9 in December. According to the NFIB, the index’s average monthly level was 104.8 in 2017, the highest in the history of the the survey.
Juanita Duggan, the president and CEO of the NFIB, pinned the increase in optimism on policy changes from Washington under President Donald Trump.
“With a massive tax cut this year, accompanied by significant regulatory relief, we expect very strong growth, millions more jobs, and higher pay for Americans,” Duggan said in the release.
More: NFIB Chief Economist Bill Dunkelberg also credited Trump’s election for the surge in optimism.
“The 2016 election was like a dam breaking,” Dunkelberg said. “Small business owners were waiting for better policies from Washington, suddenly they got them, and the engine of the economy roared back to life.”
Hat tip BusinessInsider.com