Small Businesses Report Record High Levels Across Regions
NATIONAL SCORE: 70.7
Northeast (70.9): Northeastern views of the local economy remained steady: 49% feel their local economy is in good health this quarter (47% in Q2). 50% of Northeast small businesses believe the U.S. economy is in good health, down from 58% in Q2. 66% say their business health remains strong, 78% are comfortable with cash flow, and 26% have plans for increasing investment (higher than Q2’s 22%).
Midwest (70.4): Last quarter’s survey found that Midwesterners’ views on the local economy declined. That is no longer the case. Currently, 51% of Midwestern small businesses say their local economy is in good health, up from 46% in Q2. 59% feel positive about the U.S. economy (up from Q2’s 57%). 62% of Midwest small businesses say their business is in good health, a decline from last quarter (67%).
South (70.9): Southern small businesses are feeling particularly bullish about the local economy. 63% believe their area is in good health, up from 51% last quarter, and the highest of any region. 62% agree the U.S. economy is in good health, up from 57% last quarter. 67% rate their own business’ health as good, an increase of five percentage points from last quarter, but even with Q1 (68%).
West (70.7): 56% of Western small businesses rate their local economic health as good, unchanged from last quarter. An equal number (57%) feel the U.S. economy is in good health, a downturn from last quarter (62%), but on par with sentiments from a year ago. Optimism about business health is holding steady: 67% of Western small businesses report being in good health, equal to Q2.