The National Federation of Independent Business (NFIB) stated on Tuesday in its report that the Small Business Optimism Index came in at 91.3 in August, decreasing 2.5 points from July. This is the 32nd straight month of the figure remaining below the 50-year average of 98.
The net percent of owners who see real sales increasing dropped by nine points in the reported month compared to July and now stands at a net negative 18%. The percentage of owners quoting inflation as their main issue in operating the business edged down by one point on a monthly basis, falling to 24%.
"The mood on Main Street worsened in August, despite last month’s gains. Historically high inflation remains the top issue for owners as sales expectations plummet and cost pressures increase. Uncertainty among small business owners continues to rise as expectations for future business conditions worsen," NFIB Chief Economist Bill Dunkelberg commented.
