Small business optimism increased 0.4 points in May to a level of 89.4 on the NFIB Small Business Optimism Index.
Among respondents, 25% cited inflation as the single most important problem impacting their business, a two-point uptick from April.
“Overall, small business owners are expressing concerns for future business conditions,” stated Bill Dunkelberg, NFIB Chief Economist. “Supply chain disruptions and labor shortages will continue to limit the ability of many small firms to meet the demand for their products and services, while less severe than last year’s experience.”
May also marked the 17th consecutive month below the index’s 49-year average of 98.
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