NFIB Small Business Survey: Optimism Drops to 10-Year Low

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The National Federation of Independent Business (NFIB) Small Business Optimism Index is a composite of ten components and is meant to provide an indication of of the overall health of small businesses in the country. The latest issue of the NFIB Small Business Economic Trends came out this morning. The headline number for April dropped to its lowest level since January 2013, coming in at 89.0, down 1.1 from the previous month and below the forecast of 89.6. April's reading remains below the series average of 98.2 for the 16th consecutive month. The index is at the 5th percentile in this series.

Here is an excerpt from the opening summary of the news release and a snapshot of the components month-over-month performance.

“Optimism is not improving on Main Street as more owners struggle with finding qualified workers for their open positions,” said NFIB Chief Economist Bill Dunkelberg. “Inflation remains a top concern for small businesses but is showing signs of easing.”