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Mood Of Small Business Slightly Improved

Written by Ken Gaebler
Published: 10/12/2010

NFIB Index reveals 0.2 point increase in optimism

The mood of small business owners was slightly higher in the month of September, according to one of the leading small businesses optimism indexes.

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National Federation of Independent Business Index of Small Business Optimism rose by 0.2 points in the month of September, reaching a score of 89.0. Though the small rise was seen as good news for small business, any number below 90 is considered indicative of a struggling economy. With hiring at a standstill and many businesses suffering from a lack of consumer spending, the leadership at the NFIB called on Congress to take action.

"Members of Congress fled with no action on important issues such as extending current tax rates, leaving the cloud of uncertainty larger and darker," said NFIB president William Dunkelberg. "In response, consumer sentiment fell and owner optimism remained anchored solidly in recession territory."

Dunkelberg was in the news recently after responding to the job losses recorded in the month of September. Speaking about the 95,000 jobs lost, he said that despite the growth in the economy, most "firms have not increased employment."

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