U.S. Outlook: Are small businesses joining the expansion?
Two new data points suggest that small businesses are finally taking part in the economic expansion.
For more on this and other economic developments to watch, see highlights of my weekly economic analysis below, followed by a link to the full U.S. Outlook report, delivered on Nov. 14.Key observations:
- The boost in optimism among small business owners bodes well for economy.
- Spending, hiring, and sales outlooks are improving for small businesses.
- The majority of banks expect to increase lending to small businesses over the next 12 months.
- The improving labor market is bolstering consumer resilience.
- The uptick in employees quitting is a sign that they are becoming more confident about finding better jobs elsewhere.