Latest data released by NFIB - 11 February 2020
- Prior 102.7
The data is released a little earlier than expected, and shows a mild improvement to the December reading - suggesting that the economic expansion is continuing its march into the new year, with little indication of slowing down.
The report commentary notes that:
"The 2020 small business sector is off to a strong start, continuing the longest economic recovery on record. Small business owners are confidently filling open positions, raising wages, and investing in their business.
The current environment is a sharp departure from this time last year when the political disfunction in D.C. created the longest federal government shutdown in U.S. history. About 1/3 of small business owners were negatively impacted and the residual effects of slower payments and lost revenue, for many, lasted months after it ended. But despite the shutdown, recession mumblings, tariffs, and an impeachment, 2019 was still a strong year for small businesses and with most of those issues resolved or muted, 2020 is shaping up to outpace last year."
Adding that the biggest risk to the economy appears to be the potential global implications of the new coronavirus outbreak. In any case, the market is still taking that in stride right now and the report here will do little to derail current sentiment towards the US economy.
