The National Federation of Independent Business’ small business optimism index rose by 0.8 points in February to 95.8 but again failed to return to pre-pandemic levels.
While February’s print was a slight bump from January, it was still below the 47-year average reading of 98 as five of the ten index components improved, four declined and one remained unchanged.
According to the report, 40% of US business owners reported job openings that could not be filled, a month-on-month increase of seven points, but owners indicating that they expect better business conditions over the next six months increased four points to -19%
The NFIB uncertainty index decreased five points to 75.
NFIB chief economist Bill Dunkelberg said: “Small business owners worked hard in February to overcome unexpected weather conditions along with the ongoing Covid-19 pandemic.
“Capital spending has been strong, but not on Main Street. The economic recovery remains uneven for small businesses, especially those still managing state and local regulations and restrictions. Congress and the Biden administration must keep small businesses a priority as they plan future policy legislation.”
