The post-election sentiment sea change 🔃

The gap between gloomy soft data and resilient hard data is closing 🤝

Small business optimism spiked in November.

The National Federation of Independent Business’ (NFIB) Optimism Index spiked eight points during the month to 101.7, its highest reading since June 2021.

Small business optimism spiked. (Source: NFIB)

“[C]learly a response to the presidential election,“ the NFIB report’s authors stated. “The election results signal a major shift in economic policy, particularly for tax and regulation policies, that favor economic growth.“

The index components that saw the biggest jumps were “Expect economy to improve” and “Expect real sales higher.”