Additionally, 30% of small businesses are planning to raise selling prices over the next three months as inflationary pressures persist. The NFIB Small Business Optimism Index inched up in May, increasing 0.4 point. In terms of employment, 40% of business owners reported job openings were hard to fill, 36% said they had raised compensation, and 26% plan to increase in the next three months. A net negative 14% reported higher nominal sales over the past three months, the lowest level in three years. The percentage of small business owners expecting improvement in business conditions decreased to a deeply pessimistic reading of net negative 37%.
Small business owners continue to be most concerned about inflation and hiring problems. The latest Small Business Optimism Index for August decreased 0.6 points to 91.3, its 20 th consecutive month below the survey’s 49-year average of 98.1. economy – at least 2 of every 3 new jobs – are in small businesses. The data is categorized under Global Databases USA Table US.S017: NFIB Index of Small Business Optimism. This release is an important one to follow each month as small businesses are quicker to react to a changing economic climate and a large part of the U.S. National Federation of Independent Business.
#Nfib index series
The series goes back to 1973 (quarterly surveys, monthly starting in 1986) and is released on the second Tuesday of each month. The National Federation of Independent Businesses (NFIB) collects small business trend data by surveying their membership base on a monthly basis.
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