Small Business Owners Show Increased Optimism
Written by Ken Gaebler
Small business owners more confident in the future than the present moment.
The Halloween week seemed to generate a more positive mood, in two recent polls conducted by Wells Fargo and the Gallup organization. There are signs of good news for small business owners, who expressed growing confidence in the economy in October.
Optimism among small business owners improved during October, driven by improved outlook for revenue, capital spending and hiring, according to the quarterly Wells Fargo/Gallup Small Business Index.
The index is the sum of "present situation" and "future expectations" of small business owners for six key measures, including financial situation, cash flow, revenues, capital allocation spending, job hiring and credit availability.
The latest index readings showed a present situation score that was down one point to negative 24, while the future expectations score increased seven points.
Gallup said consumers also experienced a lift in October, with confidence and spending reaching their best levels in several weeks.
Gallup's Economic Confidence Index showed consumer spending improved to its "paycheck week" trend, giving the economy a lift in consumer spending on alternating weeks.
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