Mubasher: Positive sentiment among US small businesses saw an improvement in July, recording the second highest level in history, according to the National Federation of Independent Business (NFIB) survey.

Small business optimism index was 107.9 in July, gaining 0.7 points, marking the second highest reading since the survey’s 45-year history, and below the July 1983 peak of 108, the NFIB said on Tuesday.

Eight of the ten index components saw gains, as current job openings advanced 1% month-on-month to a net of 37% in July, hitting a fresh survey record, with 3% to a net of 23% in plans to increase employment which reflected concerns about the quality of labour.

“Despite challenges in finding qualified workers to fill a record number of job openings, they’re [small business owners] taking advantage of this economy and pursuing growth,” NFIB CEO Juanita Duggan said.

The component of expectations for economic improvement rose 2% month-on-month to a net of 35% in July, while those comprising the current stockpiles and plans to increase inventories declined by -3 to -3% and by -2 to 4%, respectively. 

“Expansion continues to be a priority for small businesses who show no signs of slowing as they anticipate more sales and better business conditions,” Duggan added.