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  • Small Business Economic Trends - November 2009

    The Index of Small Business Optimism gained 0.3 points, rising to 89.1 (1986=100), 8.1 points higher than the survey's second lowest reading reached in March (the lowest reading was 80.1 in 1980:2). In the 1980-82 recession period, the Index was below 90 in only one quarter. In this recession, the Index has been below 90 for six quarters, indicative of the severity of this downturn.

  • Small Business Economic Trends - October 2009

    The Index of Small Business Optimism gained 0.2 points, rising to 88.8 (1986=100), 7.8 points higher than the survey's second lowest reading reached in March 2009.

  • Small Business Economic Trends - September 2009

    The Index of Small Business Optimism gained 2.1 points in August, rising to 88.6 (1986=100), 7.6 points higher than the survey’s second lowest reading reached in March. Seven of the 10 Index components posted gains or were unchanged, three declined.

  • Small Business Economic Trends - August 2009

    The National Federation of Independent Business monthly Small Business Economic Trends survey reports small business owner optimism fell 1.3 points to 86.5, producing the second monthly decline in a row (but still above the March reading of 81.0, the lowest reading of this recession). The main cause was a decline in expectations that business conditions would improve in six months.

  • Small Business Economic Trends - July 2009

    The Index of Small Business Optimism lost one point, falling to 87.9 (1986=100) after posting a gain of 6.9 points since March. Four of the ten Index components posted gains, six lost ground. The decline, although small in magnitude, was primarily a result of declines in expected real sales and expected business conditions.

  • Small Business Economic Trends - June 2009

    The Index of Small Business Optimism rose 2.1 points in May to 88.9 (1986=100). Nine of the ten Index components were unchanged or higher in May. The Index is still well below its historical average of 100, but headed in the right direction. Labor market components did not improve, indicating another bad month of numbers. Until small businesses start hiring, employment gains will languish.

  • Small Business Economic Trends - May 2009

    The Index of Small Business Optimism rebounded 5.8 points in April to 86.8 (1986=100), led higher by 8 of the 10 Index components. All three of the "hard components" (job creation plans, inventory investment plans and capital spending plans) rose, although they are still at anemic levels. Assuming April’s numbers are not merely a brief interruption of a longer recession, this is good news for Gross Domestic Product growth and a rescue of the job market.

  • Small Business Economic Trends - April 2009

    The Index of Small Business Optimism fell 1.6 points in March to 81.0 (1986=100), still the second lowest reading in the 35 year history of the NFIB survey (80.1 is the low, reached in 1980Q2). Two of the Index components improved and 8 declined. There we no components that delivered a strong signal of improvement, that will have to wait for the April survey.

  • Small Business Economic Trends - February 2009 (768 KB, PDF)

    For small business owners, January started off as badly as December ended. The Index of Small Business Optimism fell 1.1 points to 84.1 (1986=100), the second-lowest reading in the 35-year history of the National Federation of Independent Business survey.

  • Small Business Economic Trends - January 2009 (875 KB, PDF)

    December was not a good month for small business owners. The National Federation of Independent Business Small Business Optimism Index fell 2.6 points to 85.2, the second lowest reading in the 35-year history of the survey.

  • Small Business Economic Trends - December 2008 (847 KB, PDF)

    Small business owners broadly and sharply feel the impact of the recession. While the National Federation of Independent Business Index of Small Business Optimism rose a marginal 0.3 points to 87.8 (1986=100), it was the fourth lowest reading in the 35-year history of the survey. Inflationary pressures eased significantly, with the net percent of owners reporting higher average selling prices plunging to zero percent, a 15-point decline from October and one of the lowest readings ever.

  • Small Business Economic Trends - November 2008 (869 KB, PDF)

    October's churning economic activity clearly worried small business owners. The National Federation of Independent Business Index of Small Business Optimism fell 5.4 points to 87.5 (1986=100), the third lowest reading in the 35-year history of the survey.

  • Small Business Economic Trends - October 2008 (876 KB, PDF)

    The National Federation of Independent Business Index of Small Business Optimism rose 1.8 points to 92.9 (1986=100) in September, continuing one of the longest strings of recession-level readings in the history of the survey (started in 1973). But the index did rise for the second month in a row.

  • Small Business Economic Trends - September 2008 (873 KB, PDF)

    The National Federation of Independent Business Index of Small Business Optimism rose 2.9 points to 91.1 in August, but continued one of the longest strings of recession-level readings in the history of the survey – dating back to 1973. Two-thirds of the gain was due to a new confidence among small business owners who expect business conditions to improve over the next six months.

  • Small Business Economic Trends - August 2008 (865 KB, PDF)

    The National Federation of Independent Business Index of Small Business Optimism fell one point to 88.2 (1986=100) in July, establishing one of the longest strings of recession-level readings in the history of the survey. Half of the decline was due to weaker capital spending plans—the lowest reading since 1975. Lower earnings, fewer job openings and lower inventory satisfaction also posted substantial declines, but those were mostly offset by gains in expected real sales, business conditions and the percent of owners saying this is a good time to expand.

  • Small Business Economic Trends - July 2008 (847 KB, PDF)

    The National Federation of Independent Business monthly Index of Small Business Optimism was basically unchanged in June, falling 0.1 points to a recession-level reading of 89.2. "The top concern of small business owners today is inflation--the first time since January 1981," said NFIB Chief Economist William Dunkelberg.

  • Small Business Economic Trends - June 2008 (942 KB, PDF)

    Small business owners are not optimistic about the current state of the economy. "The National Federation of Independent Business Index of Small Business Optimism fell 2.2 points to 89.3 – a recession-level reading, and the lowest index reading since 1980," said NFIB Chief Economist William Dunkelberg. "But the current low readings have not been accompanied by the declines in real spending and hiring as was the case in past recessions," he said.

  • Small Business Economic Trends - April 2008 (205 KB, PDF)

    Recession clouds appeared in the skies over Main Street, according to the most recent National Federation of Independent Business Small Business Economic Trends member survey. The NFIB Index of Small Business Optimism fell 3.3 points in March to 89.6 – its lowest reading since the monthly surveys were started in 1986, and the lowest quarterly reading since the second quarter of 1980. The decline was driven by a sour outlook for business conditions and real sales growth, accounting for half the decline in the Index. Weaker plans to create new jobs accounted for 21 percent of the decline. "We are seeing recession readings," said NFIB Chief Economist William Dunkelberg.