U.S. small-business confidence reached its highest level in nearly 3-1/2 years in November, driven by post-election euphoria. According to the National Federation of Independent Business (NFIB), the Small Business Optimism Index surged as owners became more optimistic about the economy and expansion
U.S. small-business confidence surged to its highest level in nearly 3-1/2 years in November, buoyed by post-election optimism. The National Federation of Independent Business (NFIB) reported on Tuesday that its Small Business Optimism Index jumped by 8.0 points to 101.7 last month, the highest since June 2021. Donald Trump’s victory in the presidential race and his Republican Party’s control of the U.S. Congress in the recent elections were expected to boost confidence among small business owners, who traditionally lean Republican. Other sentiment surveys, including the University of Michigan’s, have also seen improvements in the aftermath of the November 5 election, albeit divided along party lines.
The proportion of small business owners expecting the economy to improve surged by 41 points to 36%, the largest increase since June 2020. The number saying now is a good time to expand their business reached levels last seen nearly 3-1/2 years ago. More businesses anticipated higher sales growth, while the share of those naming inflation as their main concern fell.
The survey’s uncertainty index dropped by 12 points from a record high of 110 in October. Labor remains tight in small businesses, especially in sectors like transportation, construction, and professional services. The proportion of businesses planning to hire more workers increased by 3 points to 18%, the highest in a year. Around 32% of owners reported raising compensation, up one point from October. The share planning to increase pay over the next three months jumped 5 points to 28%, the highest level this year. About 28% planned price hikes, up 2 points from October.
"Wage hikes are essential to maintaining current employment levels and helping to fill vacancies," said Bill Dunkelberg, the chief economist at the NFIB.
Maritime trackers received new reports of an attack on a ship in the Strait of Hormuz on Sunday, according to the ...
A Kyiv-Warsaw train was struck near the Polish border, Ukraine's state railway firm said on Sunday. No passengers were injured. Ukrai...
Indonesian rescuers are searching for 130 people after a passenger ship carrying 243 people sank in the Java Sea following bad weather, while 113 p...
Maritime trackers received new reports of an attack on a ship in the Strait of Hormuz on Sunday, according to the UK Maritime Trade Operations (UKMTO), adding to concerns about energy supplies after Saudi Arabia shut down a vital oil pipeline on Saturday.
A Kyiv-Warsaw train was struck near the Polish border, Ukraine's state railway firm said on Sunday. No passengers were injured. Ukrainian Railways said that the country's railways were facing systematic attacks for a second day and warned of widespread delays.
Dubai’s property market has spent years climbing. Now, for the first time since 2021, prices are moving in the opposite direction.
Saudi Arabia has temporarily shut down its 1,200-kilometre East-West oil pipeline after it was hit by a drone attack, with Riyadh and Baghdad saying the strike originated from Iraq.
Swedes vote in an election on Sunday (13 September) that could see the far-right enter government for the first time if the country's right-wing parties can form a majority.
Volkswagen’s supervisory board has approved a major overhaul aimed at cutting 100,000 jobs by 2030 as the German carmaker battles weaker sales, falling profits and intensifying global competition.
Chinese Premier Li Qiang has called on American companies to expand their presence in China and pledged that Beijing would address their "reasonable concerns," as China looks to stabilise trade ties with Washington ahead of President Xi Jinping's planned visit to the U.S. later this month
Apple is entering a new era as Tim Cook steps down as chief executive after 15 years at the helm, handing the technology giant's leadership to longtime executive John Ternus.
Volkswagen is heading towards a decisive showdown with labour representatives as Germany's largest carmaker weighs sweeping restructuring measures that could lead to factory closures and tens of thousands of job losses.
Online fast-fashion retailer Shein is seeking to raise up to $1.77 billion in a Hong Kong IPO after its valuation fell around 70 per cent from its private-market peak four years ago.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment