Small Business Confidence Up in July

The National Federation of Independent Business (NFIB) survey in July showed the confidence of small business owners with regard to Q3. The survey followed the unexpected growth of the U.S. economy in Q2. There was a 0.7 point jump to 95.7 - the second highest reading of 2014 - in business optimism.

There is no evidence to support an economic upturn, but survey participants said they plan to increase employment and compensation over the next three months.Sales, according to small business owners, have been low in the past three months.

While survey participants expect business conditions to worsen by the end of the year, their sales expectations have increased for the next few months. NFIB noted that, over a period of time, business owners have increased their job creation plans regardless of economic activity seen in Q3 thus far.