According to the National Association of Manufacturers’ (NAM) Monday Economic Report for this week, the National Federation of Independent Business’s Small Business Optimism Index climbed 1.6 points from 89.4 to 91.0 – highest level since November 2022. Inflation and quality of labor tied for the “single most important problem” at 24% from the reporting firms.  

The Index of Consumer Sentiment spiked 8.2 points in early July to its highest level in nearly two years (72.6). The improvement was driven by current economic conditions rather than expectations, even with both components improving.