NFIB US small business optimism index hits 11-year low

9th Apr 2024 12:21

(Sharecast News) - The National Federation of Independent Business' small business optimism index fell for a third consecutive month in March, dropping to 88.5 - the lowest reading since December 2012 and well below forecasts for a print of 90.2.

Inflation was given as the single most important problem in operating businesses for 25% of those surveyed, with higher input and labour costs and up two points from February. Additionally, the net percentage of owners who expect real sales to be higher decreased by eight points from February to a reading of net -18%.

"Business owners continue to manage numerous economic headwinds. Inflation has once again been reported as the top business problem on Main Street and the labour market has only eased slightly", said NFIB chief economist Bill Dunkelberg.

Reporting by Iain Gilbert at Sharecast.com