U.S. small business confidence climbed to a seven-month high in June as pessimism about the economic outlook diminished sharply and sales expectations improved, but a still-tight labor market continued to drive concerns about inflation, according to a survey released yesterday, Reuters reported. The National Federation of Independent Business (NFIB) said its Small Business Optimism Index rose 1.6 points to 91 last month, the greatest month-to-month improvement since August 2022. That improved optimism appeared to be helping firm up small businesses' investment plans and expectations for price increases: One-in-four firms plan near-term capital spending, up from a three-year low earlier in the spring, and nearly a third reported intentions to raise prices — a seven-month peak.
