US small business optimism index rebounds, but labor shortages and inflationary pressures persist.

According to Odaily Planet Daily, the US NFIB Small Business Confidence Index rose to 99.0 in November, up 0.8 points from October. Six of the ten sub-indices rose, mainly driven by improved sales expectations. However, the uncertainty index rose 3 points to 91, partially offsetting the optimism. Labor market conditions remain a concern, and the overall situation remains challenging. In November, approximately 33% of business owners reported job openings (up from 32% previously), the first increase since June, well above the historical average of 24%. Positive signs emerged regarding employment expectations, with about 19% of business owners planning to hire new employees in the next three months, up 4 percentage points from October and the highest level this year. Inflation remains a major concern in the November data, with the proportion of business owners raising average selling prices increasing from 21% in October to 34%, the highest level since March 2023. (Jinshi)