The latest monthly survey by a business group shows a sharp rise since Donald Trump won the presidential election.
The National Federation of Independent Business’s “Optimism Index” has skyrocketed with respondents expecting strong upward movement in job creation, sales and business conditions.
NFIB Missouri’s Brad Jones notes the instant reaction to the election is rather unusual. “Normally what happens with this survey is, you will see the reflection of this optimism really come out in about in about 6 months in the national numbers” said Jones. “We will know if this movement then was sustainable into the future if we see the unemployment rate goes down, the number of sales of sales and GNP go up, and some of the major business tell-tale signs (show) that the economy is strengthening.”
The NFIB survey has no state specific data, but Jones thinks Trump’s blowout win in Missouri reflects optimism among businesses here as well. “Given the fact that this administration won in Missouri by almost 19 points, I would say that Missouri optimism is probably following right along with the rest of the country in saying that they’re looking for better times ahead for sure.”
Jones says he hasn’t seen the index jump so sharply since he’s been NFIB’s Missouri director. He notes its 3.5 point rise in November dwarfs normal monthly movements of half a point or less. The biggest spike in the survey was in the “business conditions” category which rose a massive 44 points.
Jones thinks the state’s outlook is equally as positive as the national numbers show. “I think this survey is very reflective of the optimism of Missouri businesses towards the future of the economy.”
He says the survey reflects a feeling within the small business community that the “valve has been turned” in an economy where it’s been hard to make payroll for the last eight years.
Juanita Duggan, the president and CEO of the parent NFIB national organization said “Federal taxes, regulations, and Obamacare are the three biggest impediments to running a small business in America. Small business owners have high expectations that those problems will be addressed.”