Small business optimism declined 0.8 points in March to a level of 90.1 on the NFIB Small Business Optimism Index. It is the 15th consecutive month the index has been below its 49-year average of 98.
“Small business owners are cynical about future economic conditions,” NFIB Chief Economist Bill Dunkelberg said in a statement. “Hiring plans fell to their lowest level since May 2020, but strong consumer spending has kept Main Street alive and supported strong labor demand.”
Inflation was singled out as the most important business problem by 24% of small business owners surveyed.
“Small business owners expecting better business conditions over the next six months remain at a net negative 47%,” NFIB added.
Read Next
