News Formal

Small Business Confidence Hits All-Time Low on Worsening Sales Outlook and Belief on Main Street Recession Is Here

  • 📰 nbcchicago
  • ⏱ Reading Time:
  • 27 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 51%

United States News News

United States United States Latest News,United States United States Headlines

Confidence hits all-time low in CNBC/SurveyMonkey Small Business Survey, as weak sales outlook and inflation worry a Main Street that says recession is here.

Only a minority of small business owners have confidence in the Federal Reserve to successfully battle inflation — a finding that is consistent with the Q2 survey results.inflation as its top priority and that interest rates will continue to increase

By some measures, the U.S. economy is proving resilient. While big box stores have been hit hard by shifting consumer behavior, overall consumer spending levels are still high. The labor market is strong, unemployment low, andhas given more support to the belief that recession may be avoided. The ISM non-manufacturing purchasing managers index, released Wednesday, showed a surprise rebound.

More small businesses also anticipate cutting staff over the next year, up from 14% to 18% quarter over quarter.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 545. in US

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Highland Park businesses recovering from shooting with help of small business loansBusinesses affected by last month's massacre in Highland Park can apply for help from the federal Small Business Administration.
Source: fox32news - 🏆 547. / 51 Read more »