U.S. small business confidence was up in August as the economy continued to grow through the third quarter.
According to Reuters, “The National Federation of Independent Business said on Tuesday its Small Business Optimism Index gained half a point to 95.9 last month.”
656 businesses were surveyed and owners of those establishments said they were not impacted much by the global financial markets.
“Most of the interviews were completed before the big slide,” the NFIB said in a statement.
5 of 10 components increased in August, while three declined and two were unchanged.
The U.S. Labor Department also reported on Friday that non-farm payrolls increased 173,000 last month, the lowest gain in five months.
When asked about sales volume small business owners were generally excited. However, they did not believe it was a good time to expand given some uncertainty over China and domestic markets.
Business owners said they didn’t want to increase capital or inventory until they observed market conditions over the next six months.