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Small business confidence rises, jobs picture upbeat

Max Stchelcine assembles a Shinola three-speed bicycle at the newly opened Shinola luxury bike and watch store in midtown Detroit, Michigan
Max Stchelcine assembles a Shinola three-speed bicycle at the newly opened Shinola luxury bike and watch store in midtown Detroit, Michigan

WASHINGTON (Reuters) - U.S. small business sentiment bounced back from a seven-month low in November, with owners setting their sights on creating more jobs and expanding operations.

The National Federation of Independent Business said on Tuesday its Small Business Optimism Index edged up 0.9 point to 92.5 last month.

Eight of the index's 10 components advanced, with decent gains in job creation plans and the share of business owners saying this is a good time to expand.

Improvements in labor market components accounted for more than half of the rise in the overall index.

"The private sector is demonstrating its resilience, recovering in spite of the obstacles the government throws in its path," said the NFIB in a statement.

There were small gains in the number of owners planning to increase spending on capital goods, in those planning to increase inventories and in those expecting an improvement in sales.

Owners' perceptions of the business environment over the next six months remained downbeat as did their views on earnings.

(Reporting by Lucia Mutikani; Editing by Andrea Ricci)

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