US: NFIB Small Business Optimism Index edges lower to 102.7 vs. 103.1 expected

Eren Sengezer FXStreet

The Small Business Optimism Index dropped to 102.7 in December from 104.7 in November and fell short of the market expectation of 103.1, the National Federation of Independent Business' (NFIB) monthly publication showed on Tuesday.

The US Dollar Index largely ignored this reading and continues to trade sideways near 97.40 ahead of the Consumer Price Index (CPI) data.

Commenting on the data, "December marked the end of another banner year for the small business economy, as owners took full advantage of strong consumer spending, and federal tax and regulatory relief,” noted NFIB Chief Economist William Dunkelberg. “2020 is starting out with a solid foundation for continued growth, two-years into the Tax Cuts and Jobs Act that’s providing fuel to grow small businesses and their workforce.”

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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