The National Federation of Small Businesses announced on Tuesday that its survey of 1,495 small businesses showed increased optimism during July. This measure represents an about face from its 15-month low reached in June.
This data point joins other indicators, such as car sales, employment statistics and service provider information to show a slow but steady improvement in the economic momentum at a crucial time as the third quarter commences.
The survey questioned small business owners about their optimism for the coming six months. Their answers about seven of the index’s ten components drove the index up by 1.3 points, to a score of 95.4. Three of the ten components however continued their decline.
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