He NFIB’s index of U.S. business confidence rose one point in June, rising to 91.5 in June from 90.5 points in May, its highest level in six months, according to the National Federation of Independent Businesses. The figure exceeds market expectations, which had expected a decline to 89.5.
Despite the improvement, the indicator marks the thirtieth month below the historical average of 98Inflation remains the top issue facing small businesses, with 21% of owners reporting it as their most important problem in operating their business, down one point from May.
“Main Street remains pessimistic about the economy for the remainder of the year,” the report said. NFIB Chief Economist Bill Dunkelberg. “Rising clearing costs have led to higher prices everywhere. Meanwhile, there is no relief from inflation in sight for small business owners as they prepare for the uncertain months ahead.”
Dollar reaction
The US Dollar Index (DXY) was little changed following the release, hovering at 105.07 at the time of writing, gaining 0.04% on the day.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
