US small business confidence jumps; energy capex up

Washington

US small business confidence increased in April with owners in the energy field surprisingly bullish about capital expenditure and hiring plans, further supporting views that economic growth was rebounding after a dismal first quarter.

The National Federation of Independent Business said on Tuesday its Small Business Optimism Index rose 1.7 points to 96.9 last month. It is the latest sign the economy is clawing back after being slammed by a mix of bad weather, port disruptions, a strong dollar and deep spending cuts by energy firms.