NFIB Small Business Optimism – May 2019

The May NFIB Small Business Optimism report was released today, June 11, 2019. The headline of the Economic Trends report is “Small Business Optimism Roars Back, Rivaling Historic Highs.”

The Index of Small Business Optimism increased in May by 1.5 points to 105.0.

Here is an excerpt that I find particularly notable (but don’t necessarily agree with):

Small business optimism eclipsed pre-shutdown levels, increasing 1.5 points to 105.0 in May. Six components in the Small Business Optimism Index improved, three were unchanged, and one dipped. Capital spending plans increased along with actual outlays. Small business owners’ expectations for sales, business conditions, and expansion all rose, as the previously reported inventory imbalance was resolved. Earnings, job creation, and compensation remained very strong.

Here is a chart of the NFIB Small Business Optimism chart, as seen in the June 11 post on the Doug Short site titled “NFIB Small Business Survey…“:

NFIB Small Business Optimism Index

Further details regarding small business conditions can be seen in the full May 2019 NFIB Small Business Economic Trends (pdf) report.


The Special Note summarizes my overall thoughts about our economic situation

SPX at 2886.73 as this post is written