14 December, 2004 -The National Federation of Independent Business (NFIB) has said that the Small Business Optimism Index posted 107.7 points which is about 4 points more than the last data. This commendable feat is the highest since 1983.

The result showed that small businesses are optimistic about their economic conditions and sales. These business owners expect faster economic growth and better sales. According to the small business lobby group, the index showed a steep rise due to business plans to augment inventories and hire more personnel.

The chief economist from NFIB said that the gross domestic product (GDP) is expected to increase if the small business owners stick to their plans to hire more people. NFIB further said that the spending plans were eased to a large extent although the average capital spending remained firm.

Experts say that optimism among the small business workers was due to the recently-held election results. With President Bush remaining in power, people are more confident as Bush had confirmed that there will not be any change in the government’s economic policies.