Small Business Owners’ Confidence Continues to Sink

According to the National Federation of Independent Business (NFIB), their monthly Small Business Optimism Index fell by 1.8 points to 97.1 in January, its lowest in 11-months. Inflation remained a leading concern, as were increased input costs – particularly wages – which business owners have raised (50%) or expect to raise (27%) in the coming three months. At the same time, the index shows selling prices surged four points to 61%, the highest in 46 years. Inflation and economic growth are expected to moderate in the coming months as the Fed starts to raise interest rates.

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