NFIB Small Business Index Fall Again in June

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State of the Economy Update: NFIB Small Business Optimism

The NFIB Small Business Optimism index fell 3 points in June to an overall reading of 91.4, which was below the consensus for a reading of 92.0 and the lowest reading since October.

According to the report, the decline is significant as it relinquished the gains achieved earlier this year and is a clear indication of slow growth. Only one of the 10 Index components improved, expected credit conditions. Nearly one-quarter of owners cite weak sales as their most important business problem (23%), followed by taxes (21%) and unreasonable regulations and red tape (19%).

The current reading remains slightly ahead of the average reading of 90.2 for periods of economic recovery.

Prior Readings for Comparison:

• May: 94.4
  
• April: 94.5
  
• March: 92.5
  
• February: 94.3
  
• January: 93.9
  
• December: 93.8
  
• November: 92.0
  
• October: 90.2
  
• September: 88.9
  
• August: 88.1
  
• July: 89.9
  
• June: 90.8

On the jobs front, the “Plans to Increase Employment” saw a decline of 3 points to a reading of -3 for the first negative reading since December.

The report is based on the responses of 740 randomly sampled small businesses in NFIB’s membership, surveyed throughout the month of June 2012.

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Other stories on the US Economy to review:

• Jobs Report Disappoints Again in June
  
• ISM Non-Manufacturing Index Disappoints in June
  
• ADP Employment Surprises to Upside
  
• Challenger Planned Job Cuts Best in Year
  
• Factory Orders BTE in May
  
• Construction Spending Above Consensus in May
  
• ISM Manufacturing Plunges in June
  
• University Of Michigan Sentiment Index Weak in June
  
• Chicago PMI Headline Improves But...
  
• US GDP Grew at +1.9% Rate in Q1
  
• Durable Goods Up for First Time in 3 Mos
  
• Richmond Fed Index Declines for Third Month
  
• Consumer Confidence Falls Again in June
  
• Case-Shiller Home Price Index Improves
  
• Chicago Fed National Activity Index Falls in May
  
• Existing Homes Sales Fall But Prices Rises
  
• LEI Rises in May: Points to "Muddle Through"
  
• Philly Fed Plunges in June
  
• Housing Starts Down But Permits Up
  
• Industrial Production and Capacity Utilization Below Expectations
  
• Empire Manufacturing Disappoints in June
  
• CPI Declines in May
  
• Business Inventories Above Expectations in April
  
• Retail Sales Fall Across Board in May
  
• PPI Shows Inflation Fell at Producer Level in May

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