US small business optimism edges higher in April, NFIB says
A gauge of small US businesses' sentiment edged higher in May.
The National Federation of Independent Business's gauge improved from a reading of 93.6 to 93.8 (consensus: 93.6), thanks to modest improvements in the number of US firms looking to hire, raise net compensation or otherwise anticipating a better economy.
"Overall business sentiment remains somewhat depressed relative to its 2014 highs, but the last few months have seen a modest rebound. Labor market tightness remains a leading concern among small businesses and we expect this trend will remain in place for some time to come," Barclays's Jesse Hurwitz said in a research note sent to clients.
"The capex intentions number dipped two points to 23, returning it to the year's low. This is an unwelcome development, and a further decline would be bad news. Non-oil sector capex has risen at a reasonably steady pace; we don't want to see it weaken just as the oil capex rollover ends," said Ian Shepherdson, chief economist at Pantheon Macroeconomics.