U.S. NFIB Small Business Optimism Index rises in February

The U.S. small business optimism steadied in the month of February. The NFIB Small Business Optimism Index rose 0.5 points to 101.7, stemming the five-month string of falls. Optimism continues to be comparatively high, and recent softness was possibly because of temporary factors such as the government shutdown and stock market volatility, noted Wells Fargo in a research report.

Expectations for future economic rebound partly recovered after falling in January. More owners believe now is a good time to expand and plan to increase capital spending.

Difficulty finding labor continues to be a top concern and is restricting hiring. Companies planning to hire fell a bit, which also coincides with February’s unexpectedly soft employment report. Companies citing labor costs as their most significant problem reached a record high. Fewer businesses were actually able to increase worker compensation and fewer reported raising selling prices, reflecting more modest price pressures in months ahead, noted Wells Fargo.

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