A worker welds a lawnmower frame together on the assembly line at the Dixie Chopper manufacturing facility in Coatesville, Indiana, U.S., on Friday, June 12, 2015. The U.S. Census Bureau is scheduled to release durable goods figures on June 23. (Photographer: Luke Sharrett/Bloomberg)

A gauge of optimism among U.S. small-business owners rose to a 34-year high amid increasingly sunny expectations for sales and profits, a National Federation of Independent Business survey showed Tuesday.

Key Takeaways

Small-business sentiment has remained elevated since Donald Trump was elected president in late 2016, with tax cuts, reduced regulations and solid economic growth supporting the optimistic outlook. At the same time, owners continued to cite difficulty finding workers with the necessary skills and qualifications and have raised compensation accordingly amid the lowest unemployment rate in 18 years. The report suggests that Trump administration tariffs, along with freight bottlenecks that have pushed up costs for some businesses, have had little effect so far on small-company sentiment.

Other Details

• Shares of respondents raising prices and planning price increases were highest since 2008

• Businesses reporting higher sales over last three months rose to a net 15 percent, highest since 2005

To contact the reporter on this story: Scott Lanman in Washington at slanman@bloomberg.net

To contact the editors responsible for this story: Scott Lanman at slanman@bloomberg.net, Alister Bull

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