NFIB Small Business Optimism – November 2019

The November NFIB Small Business Optimism report was released today, December 10, 2019. The headline of the Economic Trends report is “Small Business Optimism Sees Major Spike in November.”

The Index of Small Business Optimism increased by 2.3 points to 104.7.

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

Small business optimism posted the largest month-over-month gain since May 2018, rising 2.3 points to 104.7 in November. The exceptional Optimism Index reading was bolstered by seven of the 10 Index components advancing, led by a 10-point improvement in earnings. Owners reporting it is a good time to expand increased by 6 points and those expecting better business conditions increased by 3 points. The NFIB Uncertainty Index fell 6 points in November to 72, adding to the 4-point drop in October and the lowest reading since May 2018.

Here is a chart of the NFIB Small Business Optimism chart, as seen in the December 10 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 November 2019 NFIB Small Business Economic Trends (pdf) report.


The Special Note summarizes my overall thoughts about our economic situation

SPX at 3137.44 as this post is written