Major Spike in Small Business Optimism in November

NASHVILLE, TN —The people who own and run America's small businesses are really optimistic.

Today's small business optimism report for November shows the biggest month-over-month gain in six months.

The Optimism Index reading grew by seven of the 10 Index components advancing, led by a 10-point improvement in earnings. Conversely, the National Federation of Independent Business (NFIB) Uncertainty Index fell 6 points in November to 72, adding to the 4-point drop in October and the lowest reading since May 2018.

The chief economist for the NFIB says the tax cut Congress passed two years ago is creating a favorable environment for small businesses.

“This historic run may defy the expectations of many, but it comes as no surprise to small business owners who understand what a supportive tax and regulatory environment can do for their companies,” said NFIB Chief Economist William Dunkelberg. “As the two-year anniversary of the Tax Cuts and Jobs Act’s passage approaches this month, small businesses, the world’s third largest economy, are using those savings to power the American economy.”