Arizona Comment on Today’s Release of Latest Optimism Index

July 12, 2022

Arizona Comment on Today’s Release of Latest Optimism Index

FOR IMMEDIATE RELEASE Contact: Chad Heinrich, Arizona State Director, ch@chadheinrich.com or Tony Malandra, Senior Media Manager, anthony.malandra@nfib.org PHOENIX, July 12, 2022—From Chad Heinrich, Arizona state director for the National Federation of Independent Business (NFIB) on today’s release of NFIB’s monthly Small Business Optimism Index showing that small-business owners expecting better business conditions over the next six months decreased seven points to a net negative 61%, the lowest level recorded in the 48-year survey. “With small-business-owner expectations dimming to a record low, it becomes even more important that we have state leaders focused on ways to improve business conditions for the small-business owner. All Arizonans have benefited from state legislative and executive leaders who have adopted pro-small-business policies year-after-year. But we can’t rest on past decisions. We must continue to support leaders who understand that most new jobs are created by small business owners. Small businesses drive the Arizona economy forward.” From NFIB Chief Economist Bill Dunkelberg “As inflation continues to dominate business decisions, small business owners’ expectations for better business conditions have reached a new low. On top of the immediate challenges facing small business owners including inflation and worker shortages, the outlook for economic policy is not encouraging either as policy talks have shifted to tax increases and more regulations.” Key findings from today’s Small Business Optimism Index include:

The net percent of owners who expect real sales to be higher decreased 13 points from May to a net negative 28%, a severe decline.

Fifty percent of owners reported job openings that could not be filled, down one point from May, but historically very high.

The net percent of owners raising average selling prices decreased three points to a net 69% seasonally adjusted, following May’s record high reading.

Retweet this news release here. Keep up with the latest on Arizona small business news at www.nfib.com/arizona or by following NFIB on Twitter @NFIB_AZ ### For almost 80 years, NFIB has been advocating on behalf of America’s small and independent business owners, both in Washington, D.C., and in all 50 state capitals. NFIB is a nonprofit, nonpartisan, and member-driven association. Since its founding in 1943, NFIB has been exclusively dedicated to small and independent businesses and remains so today. For more information, please visit nfib.com. NFIB Arizona 602-263-7690 NFIB.com/AZ Twitter: @NFIB_AZ