(Reuters) – U.S. small business confidence rose modestly in August, suggesting the economy continued to grow at a steady clip halfway through the third quarter.
The National Federation of Independent Business said on Tuesday its Small Business Optimism Index gained half a point to 95.9 last month.
The NFIB said the survey of 656 businesses had not been impacted much by the recent turmoil in global financial markets, which was triggered by concerns over slowing economic growth in China.
“Most of the interviews were completed before the big slide,” the NFIB said in a statement.
Five of the index’s 10 components increased last month, while three declined and two were unchanged.