According to the NFIB Research Foundation monthly survey, the optimism level of small businesses continues to be strong. The January 2020 monthly reading was 104.3, a full 3.1 points higher than the level of January 2019 of 101.2. This level is also 1.4 points higher than the average monthly optimism index of 102.9 for the entirety of 2019. According to the NFIB, January 2020’s index is in the top 10% of all readings in the 46-year history of the survey. This is a very positive sign that positive animal spirits are afoot in this segment of the economy, as small businesses are a conduit for consumer purchasing and consumer sentiment, in general.
