The NFIB Small Business Optimism Index increased 1.4 points in August to 100.2, slightly above the survey’s historical average. Owners report improvement in the small business economy, as job openings and plans to hire are increasing. However, owners continue to manage their expectations of the future economic conditions as the pandemic is expected to continue.
A seasonally adjusted net 21.0% of owners plan to create new jobs, up 3 points. The percent of owners thinking it’s a good time to expand increased 1 point to 12.0%. Thirty-three percent of respondents reported job openings they could not fill in the current period, up 3 points from July’s number.
A net negative 15.0% of all owners reported higher nominal sales in the past three months, up 13 points from July. The net percent of owners expecting higher real sales volumes fell 2 points to a net 3.0% of owners.
Three percent of owners reported in that their borrowing needs were not fully satisfied. Thirty-one percent reported all credit needs met (down 4 points) and 53.0% said they were not interested in a loan (up 2 points). A net 1.0% reported their last loan was harder to get than in previous attempts (down 1 point).
Read the NFIB report.