US small business optimism jumped the most since 2016 in June as owners anticipated better sales amid the economic reopening
small business optimismjumped 6.2 points to 100.6 in June, according to the National Federation of Independent Business' survey released Tuesday.
- Small business sales expectations jumped 37 points to net 13%.
- Eight of the ten components tracked by the index improved during the month, according to the report.
In addition, the
"Small businesses are navigating the various federal and state policies in order to reopen their business and they are doing their best to adjust their business decisions accordingly," said Bill Dunkelberg, NFIB's chief economist, in a statement. "We're starting to see positive signs of increased consumer spending, but there is still much work to be done to get back to pre-crisis levels."
In the beginning of June, all 50 states moved forward with reopening plans from sweeping lockdowns put in place mid-March to contain coronavirus. At the end of the month, however, spiking new COVID-19 cases began to force some states to pause or roll back reopening plans.
Eight of the 10 components tracked by the index improved in June, with the largest contribution from sales expectations. Businesses that expect to create jobs in the next three months jumped eight points to net 16%, according to the report.
At the same time, earnings trends slumped to a net negative 35%, the lowest reading since March 2010.
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