US Small Business Sentiment Falls for First Time in 4 Months
September 13, 2023: Small business sentiment in the United States fell for the first time in four months in August, according to a survey by the National Federation of Independent Business (NFIB). The NFIB’s Small Business Optimism Index fell to 92.8 in August from 93.1 in July.
Several factors, including rising inflation, supply chain disruptions, and labor shortages, drove the sentiment decline. The NFIB survey found that 46% of small businesses reported that inflation negatively impacted their business, up from 39% in July. The survey also found that 36% of small businesses reported difficulty finding qualified workers, up from 29% in July.
Despite the decline in sentiment, the NFIB survey also found that small businesses are still optimistic about the future. The survey found that 61% of small businesses believe business conditions will improve in the next six months, up from 58% in July.
Here are some actional and practical takeaways from the article:
- Small business sentiment fell for the first time in four months.
- Rising inflation, supply chain disruptions, and labor shortages drove the decline.
- Despite the decline, small businesses are still optimistic about the future.
Here are some additional details about the NFIB survey:
- The NFIB survey is a monthly survey of small businesses.
- The survey covers 75,000 small businesses across the country.
- The survey is a good indicator of how small businesses are feeling.