Small business optimism dipped in December, according to a national survey of small business owners, to end what was hailed as a strong year by the National Federation of Independent Businesses.
“December marked the end of another banner year for the small business economy, as owners took full advantage of strong consumer spending, and federal tax and regulatory relief,” said NFIB Chief Economist William Dunkelberg. “2020 is starting out with a solid foundation for continued growth, two-years into the Tax Cuts and Jobs Act that’s providing fuel to grow small businesses and their workforce.”
The NFIB Small Business Optimism Index ended the year at 102.7, down 2 points from November, and up from 102 in January. An increased number of small business owners reported better business conditions and expect higher nominal sales in the next three months. And small businesses continued to hire and create new jobs with actual job creation matching November’s reading, the highest since May.