Economic Buzz: US small business confidence improves in July

Small business optimism in the U.S. strengthened in July after eroding in the previous month as business expectations turned positive despite a rise in uncertainty, results of a monthly survey by the National Federation of Independent Businesses showed on Tuesday.

The NFIB Small Business Optimism Index rose 1.7 points to 100.3 from 98.6 in June. The reading was slightly above the 52-year average of 98, the trade body said.

The NFIB survey also revealed the share of business owners who reported labor quality as their top most problem rose five points from June and ranked as the main problem faced by small businesses.

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