Why is the Small Business Optimism index down? Listen: John Kabateck, California state director for the National Federation of Independent Business (NFIB), which produces the monthly Small Business Economic Trends report, also known as the Optimism Index.
From NFIB Chief Economist Bill Dunkelberg
“Small business owners are losing confidence in the strength of the economy and expect a slowdown in job creation. As owners look for qualified workers, they are also reporting that supply chain disruptions are having an impact on their businesses. Ultimately, owners could sell more if they could acquire more supplies and inventories from their supply chains.”
From NFIB’s NationalNews Release
The Optimism Index decreased in July to 99.7, a decrease of 2.8 points, reversing June’s 2.9-point gain. Six of the 10 components declined, three improved, and one was unchanged. Other key findings include:
* Sales expectations over the next three months decreased 11 points to a net negative 4% of owners.
* Owners expecting better business conditions over the next six months decreased eight points to a net negative 20%.
* Earnings trends over the past three months decreased eight points to a net negative 13%.