Latest data released by NFIB - 14 January 2020

  • Prior 104.7

The data has been released a little earlier, supposedly scheduled for 1100 GMT. This is an index which measures the opinion of small businesses on the economic conditions in the country.

Despite a bit of a dip, the headline print remains elevated relative to historical readings and just below the average posted for 2019. NFIB notes in the report that:

"Small businesses ended another year taking full advantage strong consumer spending, and federal tax and regulatory relief. The economic expansion continues its historic run as it enters 2020.

Six of the 10 Index components fell, two improved, and two were unchanged. The NFIB Uncertainty Index rose 8 points in December to 80. Reports of expected higher nominal sales in the next three months and better business conditions improved. The frequency of plans to raise compensation lost 2 points in December but remains one of the highest reading in the survey's 46-year history. Actual job creation in December matched November's reading, as small businesses continued to hire and create new jobs. Overall, the Main Street economic machine continued to push the economy forward."

Overall, it points to some moderation in business optimism and the US economy in general but there are still no major signs of a potential hiccup just yet. This is one of the spots to get an early indication but so far there isn't anything significant to note.