The latest NFIB Small Business Optimism Index shows a small increase of 0.4 points in May, taking the index to 89.4. However, this is still the 17th consecutive month the index has been below the 49-year average of 98, with the last time the index at or above average in December 2021. Of particular concern is that small business owners expecting better business conditions over the next six months have declined one point from April to a net negative 50%.
NFIB Chief Economist, Bill Dunkelberg, said, “Overall, small business owners are expressing concerns for future business conditions.” He pointed out that issues like supply chain disruptions and labor shortages will continue to impact many small firms’ ability to meet demand, albeit less severely than last year’s experience.
