Small-business owners are continuing to express confidence in the nation’s economy, and an inflation scare seen earlier this year seems to have subsided, according to a recent survey.
The National Federation of Independent Business, which conducts the survey, said that with a 105.9 reading on its “optimism index” for July, the gauge is on a 16-month run above 100, which is its baseline.
“This string of readings above 100 is unprecedented in the 30-year history of the NFIB surveys and continues to signal that 2004 will be the best economy in 20 years,” according to a recent report by the federation.
In the July survey, 28 percent of business owners said they raised average selling prices; that was down 7 points from June. Nine percent said they reduced prices.