SBOI rose for the fifth time in six months, climbing from 88.1 in July to 94.1 in January, the highest reading since the end of 2007. Seven of the 10 indicators were up in January, one down, and two unchanged. Earnings trends and sales expectations were the biggest positive contributors.
The net percent of small business owners expecting gains in real sales volumes improved for the fourth straight month from a net negative 3% in September to a net positive 13% in January, the highest since October 2007. The 12-ma is back in positive territory.