NFIB small business optimism index hits three-month high.
The National Federation of Independent Business' small business optimism index increased from 95.8 in April to 98.8 in May, the highest reading in three months, ahead of forecasts of 95.9.
Source: Sharecast
18% of small business owners reported taxes as their single most important problem, while 14% of owners reported that inflation was their single most important concern.
The number of owners expecting business conditions to improve rose 10 points month-on-month to 25%.
"Although optimism recovered slightly in May, uncertainty is still high among small business owners. While the economy will continue to stumble along until the major sources of uncertainty are resolved, owners reported more positive expectations on business conditions and sales growth", said NFIB Chief Economist Bill Dunkelberg.
Reporting by Iain Gilbert at Sharecast.com
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