Small business optimism increased 0.4 points in July to 89.9 on the National Federation of Independent Business Optimism Index.
The level remained below the 48-year average index level of 98. Additionally, 37% of small business owners reported that inflation was their most important problem in operating their business, a three-point jump from June and the highest level since the fourth quarter of 1979, according to NFIB.
“The uncertainty in the small business sector is climbing again as owners continue to manage historic inflation, labor shortages and supply chain disruptions,” NFIB Chief Economist Bill Dunkelberg said in a statement. “As we move into the second half of 2022, owners will continue to manage their businesses into a very uncertain future.”
