first reported, is part of a broader confidence index that, in May, revealed its largest year-over-year drop since the COVID-19 lockdown from spring 2020. While prices continue to rise, the number of small businesses that expect a revenue increase in the coming year dipped to 61%, a significant decline from the May 2020 level of 79%.
Even large corporations are feeling the impact of supply-chain holdups, rising prices and worker shortages. Supply chains are also seeing indicators that consumers are starting to cut down on spending, particularly for discretionary purchases, amid higher prices for gas and other necessities.
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