U.S. small business optimism dipped in August as owners worried about the economy’s near-term outlook, but gains in sales expectations and hiring plans hinted at a pick-up in the pace of economic growth.
The National Federation of Independent Business said on Tuesday its Small Business Optimism Index slipped 0.1 point to 94 last month.
While details of the survey were fairly mixed, key indicators such as planned hiring, capital spending, inventory accumulation and sales all advanced in August, suggesting an improvement in sentiment in the months ahead.
“Capital spending and inventory investment plans increased as well, all activities that would put some energy into GDP (gross domestic product) growth,” the NFIB said in a statement.
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