NFIB Optimism Index Ticks Upward Again

Following two positive reports about employment in the last week, there’s now even more reason to believe the overall economic situation will keep getting better.  The National Federation of Independent Business’s latest Index of Small Business Optimism is out, and it shows small business owners continued to gain confidence in February.

Compared to January, the Index rose 0.4 points in February, coming in at 94.5 at the end of the month.  That’s not bad, especially considering what other scores we’ve seen in recent times.

NFIB chief economist Bill Dunkelberg pointed out in a statement, "[94.5] is the third best reading since the fourth quarter of 2009 when the economy was expanding rapidly.  So, it gives us cause for some real optimism.  Apparently the future is looking brighter for a few more small-business owners, although much will depend on what Congress does this year."

One specific area of improvement in February related to positive earnings trends, up one point versus the month before.  Then another, as we hinted before, was hiring, with the NFIB characterizing the figures as "solid."

So let’s hope everything stays on track this month and in the weeks and months ahead.

The Dow, Nasdaq, and S&P 500 are all up today (1.08 percent, 0.69 percent, and 0.86 percent, respectively), at least, which is a nice sign of economic strength.