A survey released this morning by the National Federation of Independent Business shows that owners became more pessimistic during September as employment and sales remained weak. The NFIB’s index of owner optimism fell 0.1 point to 92.8. The survey does have some bright spots. The number of owners who believe this is a good time to expand their companies rose 3 percentage points. And the number of owners who expect business conditions to improve in six months gained 4 points. Though the number of owners who plan to create jobs fell 3 points, the number of those who plan to reduce their payrolls rose 2 points. More than a fifth of the survey’s participants say weak sales are their biggest business problem. The survey is in line with other small business readings that show owners are cautious. One reason why the NFIB survey shows that more owners anticipate business will improve: The presidential election will be decided this fall, and Congress is likely to have taken action on tax bills, removing some of the uncertainty that has contributed to owners’ pessimism the past few months.
Today’s poll question — Do you think the U.S. economy will improve after the Nov. 6 election?
