The National Federation of Independent Business Index of Small Business Optimism gained 1.6 points in May with a reading of 92.2.

Although not a strong sign of recovery, it’s going in the right direction. It is the best reading since September 2008’s 92.9 index that happened just before the five-point decline in October that started the deterioration in the fourth quarter of 2008. In May, seven of the 10 index categories rose, but job creation and capital expenditure plans barely made gains.

“The performance of the economy is mediocre at best,” said William C. Dunkelberg, NFIB’s chief economist. “Given the extent of the decline over the past two years, pent up demand should be immense, but it is not triggering a rapid pickup in economic activity.”

Nine percent (seasonally adjusted) reported unfilled job openings, down two points and historically very weak.  Over the next three months, 7 percent plan to reduce employment (unchanged), and 14 percent plan to create new jobs (unchanged), yielding a seasonally adjusted net 1 percent of owners planning to create new jobs, two points better than the April reading and positive for the first time in 19 months.

source www.smallbusinessnewz.com/topnews