Andrew: US small-business sentiment rose 2.3 points to 104.7, the biggest jump since May 2018, according to the November optimism survey from the National Federation of Independent Business.
It shows a reversal from "previous months of clatter" about a looming recession, the report noted. Positive earnings and expectations that business conditions will get better drove the results, according to the survey.
"Owners are aggressively moving forward with their business plans, proving that when they're given relief from the government, they put their money where their mouth is, and they invest, hire, and increase wages," said William Dunkelberg, the chief economist at NFIB.
That's because small business owners "understand what a supportive tax and regulatory environment can do for their companies," Dunkelberg wrote. Small businesses have benefited from the Tax Cuts and Jobs Act of 2017, he said, and are using savings from the tax break to expand their businesses.
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