Small Business Leaders More Optimistic
Economic optimism among leaders of small businesses turned upward in September after six straight months of decline, according to the National Federation of Independent Businesses (NFIB).
But in spite of the rise in the group's index, its chief economist cautions that there is little among the index's 10 components that can be considered positive. For instance, reports of owners expecting real sales to improve were higher than in August, but were still negative. Similarly, owners expecting better business conditions in six months increased modestly, but this reading also remained negative.
"An increase in consumer spending would be the best imaginable stimulus right now, not gimmicky Washington policies," said NFIB Chief Economist Bill Dunkelberg. "Promising temporary tax cuts financed by permanent income tax increases will not help many small business owners who pay taxes based on personal-not corporate-tax rates."
In Massachusetts, the economic climate will improve when regulatory and tax policies from Washington promote growth and hiring, said Bill Vernon, the NFIB's director in the Bay State.
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