The latest quarterly poll of small business owners shows an overall confidence index of +106, the highest level in a decade. This 3rd quarter results is a full 11 points higher than the Quarter 2 confidence level that was also high.
This indicates growing optimism in the most important economic index for MAGAnomics, Main Street. President Trump continues to focus economic policy away from Wall Street and toward Main Street, with removal of burdensome regulations and improvements to capital access and national economic interests.
WASHINGTON, D.C. — Small-business owners’ optimism about their business situation has edged up in the past quarter to a new 10-year high. The Wells Fargo/Gallup Small Business Index for the third quarter is at +106, up 11 points since Quarter 2 and the highest since +113 measured in the second quarter of 2007. Index scores between the first and third quarters of 2016 ranged between 64 and 68.
These results are based on July 10-14 interviewing with a random sample of small-business owners nationwide. Owners are asked to evaluate both their present business situation and expectations about their business going forward.
Small business owners are more positive about the future than about their current circumstances, a pattern that has generally been the case historically. But, the overall increase in the index this quarter is mainly the result of an uptick in present situation ratings, rather than expectations about the future. The present situation score rose from +36 in the second quarter to +45 in the third quarter, while the future expectations score this quarter remained essentially constant — +61 compared to +59 last quarter. Both of these measures are as high as they have been since 2007. (read more)