US NFIB – Small Biz – Back to “Trump elected”

One of the vectors of “Trump is good” was de-reg, which impacts smaller business the most since they are the ones with less resources to deploy on regulation adequacy.

Here’s an updated chart of NFIB, confidence index of small businesses. Coincident indicator at best.
– Actual Earning’s Change is still very near highs, above 2004-2007 highs, positive.
– Some sub-indices are back to 2 to 3-yr lows or around levels seen right before Trump was elected.

Noise, but interesting to follow every once in a while.

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