NFIB Small Business Optimism – August 2023

The August NFIB Small Business Optimism report was released today, September 12, 2023. The headline of the Economic Trends report is “Prices Rising Slightly on Main Street as Inflation Remains a Top Business Problem.”

The Index of Small Business Optimism decreased by .6 points to 91.3.

Here is an excerpt that I find particularly notable (but don’t necessarily agree with):

NFIB’s Small Business Optimism Index decreased 0.6 of a point in August to 91.3, the 20th consecutive month below the 49-year average of 98. Twenty-three percent of small business owners reported that inflation was their single most important business problem, up two points from last month. The net percent of owners raising average selling prices increased two points to a net 27% (seasonally adjusted), still at an inflationary level.

Below is a chart of the NFIB Small Business Optimism chart, as seen in the full August 2023 NFIB Small Business Economic Trends (pdf) report:

NFIB Small Business Outlook 91.3


The Special Note summarizes my overall thoughts about our economic situation

SPX at 4469.28 as this post is written