Small business owners felt a little more optimistic about the economy last month, but a greater share said inflation is their biggest operating problem, according to National Federation of Independent Businesses data. The
reported Tuesday its Small Business Optimism Index, which is compiled monthly through a survey of small businesses, rose 2.2 points in July to 93.7. That is the highest reading since Feb. 2022, but the 31st straight month below the 50-year average of 98. Meanwhile, the percentage of small business owners that cited inflation as their top problem rose four points from June, to 25%.
chief economist Bill Dunkelberg. ‘BAR RESCUE’ HOST JON TAFFER WARNS SMALL BUSINESSES FACING AGENDA ‘DISARMING’ PROSPERITY: ‘WE NEED A CHANGE’ "Cost pressures, especially labor costs, continue to plague small business operations, impacting their bottom line," Dunkelberg continued. "Owners are heading towards unpredictable months ahead, not knowing how future economic conditions or government policies will impact them.
said its latest survey findings indicate inflation – which has been well above the Federal Reserve's 2% target rate for years – continues to plague Main Street. GET FOX BUSINESS ON THE GO BY CLICKING HERE Although the consumer price index has fallen from a peak of 9.1%, it remains notably higher than pre-pandemic levels, coming in at 3% year-over-year in June. When compared with January 2021, before prices began to spike, inflation is up more than 18%.