(Reuters) – U.S. small business confidence rose last month to its highest since the onset of the coronavirus pandemic earlier this year with more firms experiencing an uptick in foot traffic and sales, according to a monthly survey released on Tuesday.
The National Federation of Independent Business Optimism Index rose 3.8 points to a reading of 104 in September, the highest level since February. After crashing to a seven-year low in April, the index has rebounded sharply as restrictions imposed on businesses and consumers to contain the spread of COVID-19 have continued easing.
Nine of the index’s 10 components showed improvement, led by a 13 point improvement in business owners’ assessment of earnings trends. A larger net percentage of firms expect the economy to improve as well, and a