Optimism increased among small business owners in April, rebounding from a drop in March, according to a monthly index from the National Federation of Independent Business (NFIB).
The Small Business Optimism Index rose two points in April to 94.5. That increase makes up ground lost in March, when the index slipped 1.8 points.
The index has now increased in seven of the last eight months. But it is still weak, according to the NFIB. April’s gains only returned the index to its February 2011 level, when it also registered 94.5.
“Actual job creation is still very sluggish, but the dark mood among small business owners brightened a bit last month,” NFIB New York State Director Mike Durant said in a news release.
While the job market remains slow, small businesses’ hiring plans did improve, according to the NFIB. Seasonally adjusted, the portion of small businesses planning to increase employment over the next three months jumped five points to a net 5 percent.
More businesses were also laying plans to make capital expenditures. The number of firms planning capital outlays in three to six months rose three points to 25 percent.
The NFIB, a nonprofit organization representing members in all 50 states and in Washington, D.C., calculated the index after sampling 1,817 of its members in April.
Contact Seltzer at rseltzer@cnybj.com