Reuters
Lucia Mutikani
Dec. 10, 2024
U.S. small-business confidence surged to the highest level in nearly 3-1/2 years in November amid post-election euphoria.
The National Federation of Independent Business (NFIB) said on Tuesday its Small Business Optimism Index jumped 8.0 points to 101.7 last month, the highest level since June 2021. Donald Trump won the race for the White House and his Republican Party clinched control of the U.S. Congress in last month’s elections.
Small business owners tend to lean Republican and the sharp increase in confidence had been widely anticipated by economists. Other sentiment surveys, including the University of Michigan’s surveys of consumers, have also improved in the aftermath of the Nov. 5 election, though along party lines.
The share of small business owners expecting the economy to improve soared 41 points to 36%, the largest since June 2020.