US NFIB small business optimism improved in May

US NFIB small business optimism improved from 96.9 to 98.3 in May. Intentions to hire rose from 11% to 12%, those expecting better economy improved from -6 % to -3% and firms expecting to increase worker pay held steady at an expansionary 14%. 

The May NFIB reading was the strongest for the year so far, and the second highest since early 2007, after December's 2014's 100.4. So quite a contrast to the relatively lacklustre big business surveys by the ISM for May. 

That said, the NFIB spokesman said that the survey confirms the economy is moving ahead "but at an uninspiring pace", as the May level was only just above the average level of the past four decades.