The index rose 2.7 points to 91.7 last month. In September the index gained just .2 points versus the previous month. October's gain was characterized by the NFIB as, "not a huge move, but at least a decent jump, perhaps anticipating an acceleration in economic activity."
The index remains in recession territory, as it has for the past two years, based on index values since 1973. Among components of the index, job creation plans turned positive and job reductions ceased. Sales trends improved, producing improved profit trends. The mood for inventory investment weakened.
"Overall, it does not appear that sales trends are supportive of a recovery in the small business sector just yet, but they were a bit stronger in October than September, said William C. Dunkelberg, NFIB's chief economist.