Analysts at TD Securities note that the US NFIB small business optimism index fell to its lowest level in five months at 103.1 in August (market 103.5), slightly down from 104.7 in July.
Key Quotes
“The decline was chiefly explained by drops in expectations for the economy and business sales. Notably, capex plans rose by a point to 28% “”its second consecutive increase and back to its six-month average. This would suggest capex may stabilize in the near-term but at still-low levels.”
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