Despite the numerous trade-related issues that could potentially affect U.S. businesses, the most recent numbers on small-business optimism continue to reflect an upbeat view of the economy.
According to Bloomberg,
NFIB President and CEO Juanita D. Duggan said,
Consumer sentiment, released for June last week by the University of Michigan, was a little less upbeat, coming down slightly from May’s levels. While overall sentiment declined, perceptions of the current environment were strong, with less optimism about future conditions.
Surveys of Consumers chief economist, Richard Curtin, wrote,
Source: University of Michigan Surveys of Consumers
Bespoke Investment Group notes that the gains in the NFIB Small Business Index “marked a big turnaround in the last few months. After dropping for five straight months, it has now risen for four straight, which is tied with five other periods for the second-longest streak since 1986.”
Bespoke also observed that,
The red arrows in Figure 3 illustrate this point, showing trending declines for the NFIB Index prior to recessions over the past 40-plus years.
Shaded areas represent recessions
Source: Bespoke Investment Group
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