Small business optimism increased 0.2 points in November to a level of 98.4, according to the National Federation of Independent Business.
The NFIB survey also found that a net 54% of small business owners reported plans to increase prices in November, a three-point jump from October and a 48-year record-high. A net 59% of small business owners reported actually increasing prices in November—the highest reading since October 1979.
“As the end of the year nears, the outlook for business conditions is not encouraging to small business owners as lawmakers propose additional mandates and tax increases,” NFIB Chief Economist Bill Dunkelberg said in a statement. “Owners are also pessimistic as many continue managing challenges like rampant inflation and supply chain disruptions that are impacting their businesses right now.”
Small business owners expecting better business conditions over the next six months declined one point to a net negative 38%, tying the 48-year record-low.
The full NFIB report can be found here.
