Small business optimism in US improving over last months: Report

By Ovunc Kutlu

ISTANBUL (AA) - Small business optimism in the US showed signs of improving over the last few months, the National Federation of Independent Business (NFIB) said Wednesday in a report.

The Optimism Index for the construction industry was 98.6 in July, up 6.3 points from the previous quarter, said the report.

In July, the Optimism Index for manufacturing stood at 92.9 – up 3.4 points from April, according to the association of small businesses.

Optimism in the retail sector improved 2.3 points in July, compared to April, while the Optimism Index for the services sector rose 1.3 points to 93.8 during that period.

"While conditions remain tough overall, owners report feeling positive about the future of the economy, especially in the construction sector," Holly Wade, executive director of NFIB’s Research Center, said in the report.

"While this increase is certainly a positive sign, reports of hiring challenges, low sales, and increasing cost pressures remain significant concerns for small businesses in every industry," she added.