The NFIB Small Business Optimism Index dropped 0.8 points in October to a level of 91.3. It is the 10th consecutive month the index has been below the 49-year average of 98.
The NFIB Small Business Optimism Index dropped 0.8 points in October to a level of 91.3. It is the 10th consecutive month the index has been below the 49-year average of 98.
Inflation was cited by 33% of small business owners as their single most important problem in operating their business.
“Owners continue to show a dismal view about future sales growth and business conditions, but are still looking to hire new workers,” NFIB Chief Economist Bill Dunkelberg said in a statement. “Inflation, supply chain disruptions, and labor shortages continue to limit the ability of many small businesses to meet the demand for their products and services.”
The full NFIB report can be found here.