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Small Businesses: Difference between revisions
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== NFIB Survey == | == NFIB Survey == | ||
[[File:Screenshot 2023- | [[File:Screenshot 2023-10-10 114439.png|alt=|center|thumb|647x647px|https://www.nfib.com/surveys/small-business-economic-trends/]] | ||
=== September 2023 === | |||
The NFIB Small Business Optimism Index decreased half of a point in September to 90.8. September’s reading marks the 21st consecutive month below the 49-year average of 98.<ref>https://strgnfibcom.blob.core.windows.net/nfibcom/SBET-September-2023.pdf</ref> | |||
* Small business owners expecting better business conditions over the next six months deteriorated six points from August to a net negative 43% seasonally adjusted, however, 18 percentage points better than last June’s reading of net negative 61% and definitely at recession levels. | |||
* Forty-three percent (seasonally adjusted) of owners reported job openings that were hard to fill, up three points from August and remaining historically high as owners can’t hire enough workers due to few qualified applicants. | |||
* Owners’ plans to fill open positions remain elevated, with a seasonally adjusted net 18 percent planning to create new jobs in the next three months, up 1 point from August and 14 points below its record high reading of 32 percent reached in August 2021. Overall, 61 percent reported hiring or trying to hire in September, down 2 points from August. | |||
* The net percent of owners raising average selling prices increased two points to a net 29% seasonally adjusted, still a very inflationary level. | |||
* Seasonally adjusted, a net 23% plan to raise compensation in the next three months, down three points from August. | |||
* A net negative 8% of all owners (seasonally adjusted) reported higher nominal sales in the past three months, up six points from August’s lowest reading since August 2020. The net percent of owners expecting higher real sales volumes improved one point to a net negative 13%. | |||
* The frequency of reports of positive profit trends was a net negative 24%, up one point from August. | |||
* The average rate paid on short maturity loans was 9.8 percent, 0.8 of a percentage point above last month. Thirty-one percent of all owners reported borrowing on a regular basis (up 3 points). | |||
=== August 2023 === | === August 2023 === | ||