The March NFIB Small Business Optimism report was released on April 10. The headline of the Press Release is “After Six Months of Increases, Small-Business Optimism Drops For Main Street, No New Jobs in the Months to Come.”
The Index of Small Business Optimism fell almost 2 points in March, to 92.5.
Here are some excerpts from the report that I find particularly notable:
After six months of gains, the Small-Business Optimism Index fell by almost 2 points in March, settling at 92.5. After a promising start to the year, nine of ten index components dropped last month, most notably hiring plans and expected real sales growth each taking a significant dive, in spite of owners reporting the largest increase in new jobs per firm in a year.
A lack of sales remains a problem for owners with 22 percent reporting “poor sales” as their top business problem.
Ninety-two (92) percent reported that all their credit needs were met or that they were not interested in borrowing.
Here is an accompanying chart of the NFIB Small Business Optimism Index since 1986:
The Special Note summarizes my overall thoughts about our economic situation
SPX at 1358.59 as this post is written