Summary Small business owners are becoming less optimistic about the economy and their business prospects amid continuing supply chains disruptions, persistent labor shortages and intensifying inflation. The path of public policy is becoming increasingly concerning for business owners as well. The NFIB Small Business Optimism Index fell 0.9 points to 98.2 in October, the second consecutive decline. Seven of the index’s 10 components weakened over the month, while one improved and two were unchanged. Optimism Slips Further in October Small business owners are becoming less optimistic about the economy and their business prospects amid continuing supply chains disruptions, persistent labor shortages and intensifying inflation. The path of public policy is becoming increasingly concerning for business owners as well. The NFIB Small Business Optimism Index fell 0.9 points to 98.2 in October, the second consecutive decline. Seven of the index’s 10 components weakened over the month, while one improved and two were unchanged. Owners’ expectations for the economy to improve saw the largest drop, falling four points to a net negative 37%, the lowest level since late 2012. Businesses’ assessments of earning trends (-3), current job openings (-2) and real sales expectations (-2) also posted notable declines. READ FULL ARTICLE>>
