After disappointing in March, US NFIB small business optimism improved again in April. NFIB small business optimism rose from 92.5 to 94.5, while only a small increase was expected. The outcome exactly matches last year’s high. The breakdown shows a strong improvement in positive earnings trend (-12% from - 23%) and also plans to hire (5% from 0%), higher selling prices (8% from 6%), increased capital spending (25% from 22%), expect better economy (-5% from - 8%), positions not able to fill (17% from 15%) and easing of credit conditions (- 8% from -11%) improved somewhat in April. The number of firms that expect higher sales (6% from 8%) and inventory satisfaction (0% from 3%) weakened somewhat last month. Recently, US economic data showed a mixed picture with employment growth slowing and business confidence indicators hovering up and down. The improvement in small business confidence is an encouraging sign and if sustained in the coming months, it might be an indication that the recovery is broadening.