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NFIB’s Small Business Index decreased for the 15th consecutive month in March dropping 0.8 percent to 90.1. It’s a slight decline for small business optimism and continues a negative trend.
“Small business owners are cynical about future economic conditions,” said NFIB Chief Economist Bill Dunkelberg. “Hiring plans fell to their lowest level since May 2020, but strong consumer spending has kept Main Street alive and supported strong labor demand.”
Here are some other key findings from the latest Index:
-Forty-three percent of small business owners reported job openings that were hard to fill, down four points from February and remaining historically very high.
-The net percent of owners raising average selling prices decreased one point to a net 37% seasonally adjusted.
-The net percent of owners who expect real sales to be higher deteriorated six points from February to a net negative 15%.