by Bespoke Investment Group
Today's release of the NFIB Small Business Survey showed that overall optimism rose to 94.5, which is the highest reading since December 2007 (94.6). It has taken a long time, but after more than a year and a half of economic recovery, small business owners are now as optimistic as they were when the economy started to top out.
This month's survey also showed that business owners are becoming more confident that they can raise prices and that those price hikes will stick. The index of prices relative to three months ago turned positive for the first time since October 2008. While this may not be a welcome sign for consumers or the inflation outlook, small business owners are more than happy to have some pricing power.
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