NATIONAL SURVEY SHOULD BE A WAKE UP CALL TO MIRROR INDIANA

Date: November 10, 2015

NATIONAL SURVEY SHOULD BE A WAKE UP CALL TO MIRROR INDIANA

INDIANAPOLIS (November 10, 2015) – The NFIB Index of Small Business Optimism
was unchanged in October, posting no change after a rise of only 0.2 points in
September and a gain of only 0.5 in August.

 

“The October NFIB survey remains below the 42 year average
of 98 and nationally, the small business community is ready to hear from
lawmakers about how they plan on turning that around, “according to NFIB
Indiana State Director, Barbara Quandt Underwood. “Thankfully in Indiana, we
have leadership that values our economic contribution and we encourage anyone
looking for solutions to look towards the Hoosier state as a prime example that
sound policies create strong businesses.”

 

According to NFIB Chief Economist William Dunkelberg, “Three
of the ten Indices fell during the month of October while five posted slight
gains and two were unchanged.  All of the components added up to a change
of 0 percentage points.  The reading of 96.1 is consistent with the
predicted economic growth of between 2 percent and 2.5 percent. Inflation
received no support on Main Street, with a net 2 percent of owners raising
their selling prices for the second month in a row.  Owners continued
reporting that their labor compensation prices were expanding rapidly, which
puts pressure on profits and depresses discretionary spending plans. 
Investments in equipment or expansion that does not produce additional profits
remain unattractive to small business owners.”     

 

“Thanks to President Obama’s crippling policies, many that
were introduced via executive order without even the consent of Congress, small
business is economically stagnant nationally. Between the rising costs of
healthcare and crippling climate policies, the flood of capital-devouring
regulations is crippling” Continued Quandt Underwood, “Adding insult to injury,
we have heard little conversation at the debates about how the 2016
Presidential hopefuls will help small business owners should they be
elected.  This is certainly adding to the uncertainty and unhappiness
surrounding economic policy.  Our members will be looking forward to the
FOX Business debate and will be listening closely.”   

 

The October survey was based on a random sample of 1411 NFIB
members. 

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