NFIB Index: Confidence Is Lower Among Small Business Owners
Written by Jenna Weiner
Index of Small Business Optimism fell by 3.2 points last month.
NFIB Index: Confidence is lower among small business owners
The Index of Small Business Optimism conducted by the National Federation of Independent Business fell by 3.2 from last month and now stands at 89. The news for small businesses showed that after making modest gains in the past few months, the outlook of most companies has worsened.
"Headwinds for the economy are still strong, making forward progress difficult to make and to hold, William Dunkelberg, the groups chief economist, said in a statement. The small business sector is not on a positive trajectory and with this half of the private sector missing in action, the poor growth performance is no surprise."
Among the specific reasons for the negative outlook is the difficultly many small businesses are having in making sales. The index reveals that the score of business owners who have reported higher nominal sales over the past three months fell by four points and now stands at a net negative 15 percent.
A recent report from the Federal Reserve discusses one of the reasons small business could be struggling. In "Terms of Business Lending," the Fed revealed that the rates on average for small businesses worth approximately $500,000 were 3.5 percent higher than the rates of the federal fund.
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