Small Business Optimism Jumps to 34-Year High

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The National Federation of Independent Business small business optimism index rose to 107.8 the highest in 34 years; the second highest in 45 years and just below the record of 108. "Main Street optimism is on a stratospheric trajectory thanks to recent tax cuts and regulatory changes. For years, owners have continuously signaled that when taxes and regulations ease, earnings and employee compensation increase," said NFIB President and CEO, Juanita Duggan.
The May report hit several records:

  • Compensation increases hit a 45-year high at a record net 35 percent.
  • Positive earnings trends reached a survey high at a net three percent.
  • Positive sales trends are at the highest level since 1995.
  • Expansion plans are the most robust in survey history.
  • “Probably the biggest and most unappreciated part of the tax package is the small business tax cut - the first ever." This was our quote from the Voya Global Perspectives® 2018 Forecast: Pro-Business Economy Unleashes Growth.

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