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President Trump Effect? Small Business Optimism Continued To Rise In February

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President Trump Effect? Small Business Optimism Continued To Rise In February

Small businesses across the United States are more optimistic at the end of February than they were at the start of the month.

Speaking as a guest on CNBC's "Squawk Box" segment Tuesday, Paychex, Inc. (NASDAQ: PAYX)'s president and CEO Marty Mucci noted February also marks the third consecutive month Paychex/IHS Small Business Jobs Index rose. Furthermore, it was the best three-month performance in years.

Optimism's Growth

Specifically, the index which was released Tuesday and tracks the month of February, rose 0.16 percent from January to 100.78. It is also higher by 0.39 percent since December. The index is also consistent with January's National Federation of Independent Business's (NFIB) index, which rose by the highest amount since 1980.

Mucci added that small business owners became more optimistic on their outlook after the 2016 presidential election but now that President Donald Trump has taken office, the optimism is translating into job growth across all sectors and regions.

Specifically, the ongoing topic of tax reform and a reform of the Affordable Care Act are among two of the many positive signs for businesses coming from the White House.

"What we saw for a few months was optimism - now it looks like for three months in a row the growth of jobs is starting to increase as well," Mucci added. "That's certainly better for the market than just optimism by itself. It's looking pretty good to me."

Related Link: A History Of Businessmen In Politics

Related Link: Could Trump Impede Michelle Obama's Health Initiatives?
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Image Credit: By Gage Skidmore from Peoria, AZ, United States of America - Donald Trump, CC BY-SA 2.0, via Wikimedia Commons

 

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