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Small business confidence down

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Small business confidence down

Smaller businesses much less confident than middle market companies.

In stark contrast to the rather robust confidence of middle market executives in recent months, small business optimism continues to be in the tank, according to the National Federation of Independent Businesses (NFIB).

Uncertainty is a major cause of the Index’s dip."NFIB reported today that the February Small Business Confidence Index dropped 2.7 points to 91.4, a reading that historically has been associated with recessions and periods of sub-par growth. The one highlight in the January survey, a surge in hiring plans, was crushed in February by the continued onslaught of a wintry recovery now in its 5th year. 

“Uncertainty is a major cause of the Index’s dip. Lacking any progress in Washington and facing continued unknowns with the healthcare law, the EPA, the minimum wage, tax reform and more, it is no surprise that the Small Business Optimism Index fell, reversing a few months of modest gains,” said NFIB chief economist Bill Dunkelberg.

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