But that was mostly in certain types of small businesses, like manufacturing and construction. However, in the current recession, the NFIB Small Business Optimism Index remains far lower. (July 12, 2022) The NFIB Small Business Optimism Index dropped 3.6 points in June to 89.5, marking the sixth consecutive month below the 48-year average of 98. About the same number plan to spend money on things like equipment and vehicles. Small businesses have lead the economy out of past recessions. Small Business Expectations for Future Conditions Hit All-Time Low WASHINGTON, D.C. Owners expecting better business conditions over the next six months declined 24 points to a net negative 16. Nine of the 10 Index components declined and only one improved. More than half of business owners surveyed were hiring last month. 12, 2021) The NFIB Small Business Optimism Index declined 5.5 points in December to 95.9, falling below the average Index value since 1973 of 98. There are some numbers in the survey that show hope. Small business optimism decreases, owners uncertain about future business conditions. They’re not sure which investments to make,” said David Audretsch, a professor of economic development at Indiana University. NFIB Small Business Optimism Index stories. More than 60% of small-business owners surveyed by NFIB said they’re not interested in a loan. These kinds of doubts keep businesses from growing, even if they have the resources to. “I don’t know if there are ever going to be people going back into the building again.” “We chose our location in downtown Detroit’s First National Building because there are about 4,000 employees going there every day,” said Dennis Archer Jr., who owns Central Kitchen + Bar. And there’s certainly a lot to feel uncertain about: the rate of the vaccine rollout, the scale of the relief package and how long it’ll take consumer spending to recover.īut business uncertainty also comes down to the small things a survey can’t capture. Uncertainty is a big driver of business pessimism. In January, the numbers were lower than they’ve been in the last eight months. Each month, the National Federation of Independent Business releases its small business optimism index.
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