Small Business Optimism Trends Downward For First Time in 4 Months

Small business optimism slid 0.6 of a point in August to a level of 91.3 on the NFIB Small Business Optimism Index.

The index remained below its 49-year average of 98 for the 20th consecutive month.

“With small business owners’ views about future sales growth and business conditions discouraging, owners want to hire and make money now from strong consumer spending,” NFIB Chief Economist Bill Dunkelberg said in a statement. “Inflation and the worker shortage continue to be the biggest obstacles for Main Street.”

Small business owners who cited inflation as their most important business problem grew two points from July to 23%.

The full NFIB report can be found at this link.