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The optimism of small business owners in the United States peaked in August and their chief lobby group awards tax cuts and regulatory backtracking by the Trump White House.
The National Federation of Independent Business said Tuesday that its index of optimism for small businesses rose 0.9 points to 108.8, eclipsing the previous record of 108 35 years ago, in the Reagan era. The numbers are seasonally adjusted.
Six of the ten indicators monitored by the NFIB increased last month. The biggest gain came in plans to increase inventories. Projects to create jobs and fill job openings also set new records.
In addition, the percentage of small business owners stating that the time is right to grow has reached the record of May 2018. And the investment plans have been the highest since 2007.
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Juanita D. Duggan, president of NFIB, said, "Today's numbers are a testament to what I hear every day from small business owners. "As the fiscal and regulatory landscape has changed, the expectations and projects of small businesses have also changed."
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The NFIB survey is the latest evidence of a rapidly growing economy.
President Trump spoke before a conference of the NFIB at the beginning of the year.
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