10 Mar 2015
US NFIB business optimism index to surge - ING
FXStreet (Barcelona) - James Knightley, Senior Economist at ING, notes that small businesses are increasingly the driving force behind the US growth story with another probable rise in today’s NFIB surveys set to highlight the positives for the sector.
Key Quotes
“The small business sector recovered rapidly through 2014. There have been broad-based improvements right across the survey with hiring plans and credit availability looking particularly strong.”
“Indeed, last week’s ADP employment report showed that small businesses (less than 50 employees) continues to make the bulk of the jobs created.”
“We have already had the hiring intentions number (released soon after last Friday’s non-farm payrolls report) and that fell marginally, but we suspect that other components will more than make up for it. The plunge in energy prices and the declines in unemployment mean that household real incomes are rising strongly, which should boost the demand components while improving credit conditions should also help.”
“Consequently, we look for the index to rise back to 99.0 from 97.9 today.”
Key Quotes
“The small business sector recovered rapidly through 2014. There have been broad-based improvements right across the survey with hiring plans and credit availability looking particularly strong.”
“Indeed, last week’s ADP employment report showed that small businesses (less than 50 employees) continues to make the bulk of the jobs created.”
“We have already had the hiring intentions number (released soon after last Friday’s non-farm payrolls report) and that fell marginally, but we suspect that other components will more than make up for it. The plunge in energy prices and the declines in unemployment mean that household real incomes are rising strongly, which should boost the demand components while improving credit conditions should also help.”
“Consequently, we look for the index to rise back to 99.0 from 97.9 today.”