FYI: Small Business Optimism from the NFIB came in weaker than expected for the month of June, falling from 104.5 down to 103.6. Economists had been forecasting a level of 104.4. To illustrate just how strong this index has been of late, the 0.9 point downside move in June represents the largest m/m decline since February 2016! Following June’s decline, the recent moves in the NFIB can be looked at from two different perspectives. On the optimistic side, the index is still well above its historical average of 96.3 going back to 2000. From the pessimistic side, however, the index has clearly lost momentum following the post-election surge, and in the process it fell short of reaching its highs from the prior expansion. The jury is still out on which side will prove to be correct.
Regards,
Ted
https://www.bespokepremium.com/think-big-blog/small-business-optimism-weaker-than-expected/
