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In the US, the NFIB small business optimism index inched down 0.5pp to 107.2 in June, a still-solid reading, notes the research team at Nomura.

Key Quotes

“The net percentage of businesses planning to increase employment and make capital outlays both remained elevated at 20% and 29%, respectively.”

“Other indicators remained strong, although the net percentage of businesses expecting the economy to improve and higher real sales both pulled back slightly.”

“Overall, the report indicates that small businesses remain optimistic given the bright US outlook.”