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Economic Data (USA)

Tuesday, February 14, 2017

NFIB Small Business Optimism Index for January 2017

The National Federation of Independent Business® (NFIB®) released its Small Business Optimism Index for January 2017:


Predicted: 104.5
Actual: 105.9

  • Change from Previous Month: +0.0945%
  • Change from 12 Months Previous: +12.78%


Small Business Optimism Index - January 2017
Small Business Optimism Index - January 2017


From today's report:

"...The Index of Small Business Optimism rose 0.1 point to 105.9, the highest reading since December 2004, sustaining the remarkable surge in optimism that started post-election. Five of the 10 Index components posted a gain and 5 declined, but all by just a few points. After the stunning increases seen after the election, all of the Index components held near their record high levels. Job openings and job-creation plans both posted small gains, confirmed by a huge increase in the net number of jobs added by the average firm, a gain subsequently confirmed by the BLS in its February jobs report. As 'good feelings' are translated into actual hiring and spending, GDP growth should see an uptick. The inflation outlook remained stable, there was no surge in reports of higher selling prices..."

  • Small business survey questions can be found at the end of today's report.
  • The baseline "100" score is associated with 1986 survey data.

Last month's Small Business Optimism Index was 105.8.


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