Mark Grant, chief market strategist at Colliers Securities, argues that he believes the Consumer Price Index and Producer Price Index data will be higher than the previous month., with the most business owners since 1980 reporting that rising prices were their single most important problem, according to a new survey published on Tuesday.
The outlook is increasingly dark for many small businesses, with the percentage of owners expecting better business conditions over the next six months falling to the lowest level recorded in the 48-year-old survey. Expectations for better business conditions have deteriorated consecutively over the past six months.
In this April 2, 2020 file photo, a notice of closure is posted at The Great Frame Up in Grosse Pointe Woods, Mich. Businesses also struggled to onboard new employees, with half of owners reporting that they could not fill open jobs. The Labor Department reported last week that there were 11.3 million open jobs at the end of May. The number of available jobs has topped 10 million for eight consecutive months; before the pandemic began in February 2020, the highest on record was 7.7 million.
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