Small business morale in the U.S. eroded for the first time in three months in September as business struggle with rising inflation, weaker sales outlook and labor shortage, survey data from the National Federation of Independent Business showed on Tuesday.
The NFIB Small Business Optimism Index dropped 2.0 points to 98.8 in September. Economists had forecast a score of 100.5. The reading remained above the survey’s 52-year average of 98.
The Uncertainty Index climbed 7 points to 100, which was the fourth highest reading in over 51 years, the NFIB said.
“Optimism among small business owners decreased in September,” NFIB Chief Economist Bill Dunkelberg said.
“While most owners evaluate their own business as currently healthy, they are having to manage rising inflationary pressures, slower sales expectations, and ongoing labor market challenges.”
“Although uncertainty is high, small business owners remain resilient as they seek to better understand how policy changes will impact their operations,” Dunkelberg added.
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