Small business confidence rises, signaling a more positive outlook for the US economy
20 Feb 2020
Small business sentiment is on the rise to kick off 2020, with confidence nearing all-time highs, according to data from CNBC and SurveyMonkey. The CNBC/SurveyMonkey Small Business Confidence Index climbed two points in the first quarter, from 59 to 61, as concerns over trade policy impacts lessened, thanks to a trade deal with China and the signing of the USMCA. This is a sharp turnaround from the lows seen last summer as trade turmoil weighed on Main Street’s outlook.
The Small Business Confidence Index is calculated based on entrepreneurs’ responses to a set of eight questions about their businesses as part of the CNBC/Survey Monkey Q1 Small Business Survey. That poll was conducted Feb. 3–10 among a national sample of 2,118 small business owners ages 18 and up.