U.S. NFIB small business confidence index rises for third straight time in July

The U.S. NFIB Small Business Confidence Index edged up 0.9 points to 91.9 in July, rising for the third straight month.

But the National Federation of Independent Business (NFIB) took a pessimistic view, noting that it was the 19th straight month below the 49-year average of 98.

Small business assessments appear to be lagging improvements in consumer sentiment.

The agency summed up the current situation saying that as small business owners have a bleak outlook on future sales growth and the business environment, they are now looking to hire staff and cash in on strong consumer spending.

Inflation has eased slightly for the general public, but hiring difficulties remain a top concern for businesses.