INDIANAPOLIS (Inside INdiana Business) – The National Federation of Independent Business says the Small Business Optimism Index increased 3.5 points in May. The trade association says owners are optimistic about future business conditions and expect the recession to be short-lived.
The NFIB says May’s 94.4 reading indicates a strong improvement over April’s 90.9 points.
“As states begin to reopen, small businesses continue to navigate the economic landscape rocked by COVID-19 and new government policies. It’s still uncertain when consumers will feel comfortable returning to small businesses and begin spending again, but owners are taking the necessary precautions to reopen safely,” said NFIB’s Chief Economist Bill Dunkelberg.
Meanwhile, the NFIB Uncertainty Index increased seven points in May to 82.
“While facing daunting challenges from nearly every angle, [small business owners] are still increasingly optimistic,” said Barbara Quandt, NFIB’s director in Indiana. “After weeks of what has seemed like a constant stream of bad news, finally the small business community has a spot of bright news and optimism to point towards. This economic indicator will serve the Hoosier economy well as small business will once again lead us out of a recession.”
The NFIB says real sales expectations in the next three months increased 18 points to a net negative 24% while expectations about future sales are beginning to rebound after April’s lowest reading in survey history of a net negative 42%.
You can view the full survey findings by clicking here.