NFIB U.S. small business optimism remains strong in September

The National Federation of Independent Business (NFIB) index of U.S. small business optimism edged up to 96.1 in September (previous: 95.9). The details of the September survey show no meaningful shift in business sentiment, and are in line with the overall upward trend over the past few years. 

Plans to hire (12%, previous: 13%) and positions not able to fill (27%, previous: 29%) both ticked lower on the month; however, optimism over economic trends improved a bit. A net 12% of respondents reported that it is a good time to expand their businesses (previous: 10%), 16% reported plans to increase compensation (previous: 13%), and a greater share expected a better economy (-4%, previous: -6%). Elsewhere, 25% of firms reported plans to increase capital spending (previous: 24%). 

"The modest softening in labor market indicators in September is consistent with the modest decline in the Barclays Indicator of Labor Market Conditions. On balance, the sustained upward momentum in business sentiment as an important building block toward better private investment in the U.S.", says Barclays.