The NFIB Small Business Optimism Index rose 6.2 points in June to 100.6, a strong improvement from May’s 94.4 reading. Owners are optimistic about future business conditions and anticipating improved sales as the economy re-opens.
A seasonally-adjusted net 16.0% of owners plan to create new jobs, up 8 points. Thirty-two percent of all owners reported job openings they could not fill in the current period, up 9 points. Twenty-five percent of the firms increasing employment also eliminated some jobs, while 23% of owners reported few qualified applicants for their open positions and 20% reported none.
A net negative 31.0% of all owners reported higher nominal sales in the past three months, down 12 points from May. The net percent of owners expecting higher real sales volumes improved 37 points to a negative 37% of owners. The historic 61-point drop over in March and April has been followed by 55-point increase over the past two months as owners are expecting higher sales with business re-openings.
Three percent of owners reported that their borrowing needs were not fully satisfied, unchanged from last month. Thirty-four percent reported all credit needs met (up 1 points) and 54.0% said they were not interested in a loan (up 2 points). A net 3.0% reported their last loan was harder to get than in previous attempts (up 1 point).
Read the NFIB report.